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McCain advisor (Gramm) spurred $62 trillion derivatives market that will swamp global markets

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blue2helix Donating Member (280 posts) Send PM | Profile | Ignore Tue Sep-16-08 10:00 AM
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McCain advisor (Gramm) spurred $62 trillion derivatives market that will swamp global markets
100 Year Crash: McCain advisor spurred $62 trillion derivatives market that will swamp global markets

Posted Sep 15th 2008 9:09AM by Peter Cohan
Filed under: Federal Natl Mtge (FNM), Politics, Lehman Br Holdings (LEH)

Lurking in the background of this weekend's collapse of two of Wall Street's biggest names, is a $62 trillion segment of the $450 trillion market for derivatives that grew huge thanks to John McCain's chief economic advisor, Phil "Americans are Whiners" Gramm. That's because in December 2000, Gramm, while a U.S. Senator, snuck in a 262-page amendment to a government re-authorization bill that created what is now the $62 trillion market for credit default swaps (CDSs).

See full article at www.Bloggingstocks.com below:

http://www.bloggingstocks.com/2008/09/15/100-year-crash-mccain-advisor-spurred-62-trillion-derivatives/
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crickets Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 12:20 PM
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1. Kick
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alstephenson Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 03:02 PM
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2. k & r
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Mnemosyne Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-17-08 01:30 AM
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3. knr for more exposure. Thanks helix! n/t
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blue2helix Donating Member (280 posts) Send PM | Profile | Ignore Wed Sep-17-08 11:01 AM
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4. Thx - I don't know why media is not talking about this obvious link n.t.
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Mnemosyne Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-17-08 11:43 AM
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5. Paid or threatened shills all. n/t
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