http://www.metafilter.com/tags/WhatWouldKudlowDo Posts tagged with 'WhatWouldKudlowDo' at MetaFilter. Mon, 18 Feb 2008 16:32:00 -0800 Mon, 18 Feb 2008 16:32:00 -0800 en-us http://blogs.law.harvard.edu/tech/rss 60 http://www.metafilter.com/69186/The%2DInvisible%2DFist%2Dof%2Dthe%2DFree%2DMarket What market has grown from <a href="http://www.nytimes.com/2008/02/17/business/17swap.html?_r=1&hp&oref=login">$900 billion in 2000 to more than $45.5 trillion</a> and is completely unregulated? Welcome to the world of <a href="http://en.wikipedia.org/wiki/Credit_default_swap">Credit Default Swaps</a>. Speculative derivatives have been described as <a href="http://news.bbc.co.uk/2/hi/business/2817995.stm">"financial weapons of mass destruction"</a> by some guy named <a href="http://en.wikipedia.org/wiki/Warren_buffet">Warren Buffet</a>. <a href="http://globaleconomicanalysis.blogspot.com/2008/02/shadows-of-cds-market.html">Some people wonder</a> how you can have "$1 trillion in swaps bet on the success or failure of GM when the entire market cap of GM is a mere $15 billion." Credit Default Swaps are being triggered from <a href="http://www.bloomberg.com/apps/news?pid=20601087&sid=aFcfu9H4c0zU&refer=home">Northern Rock</a> in the UK to <a href="http://business.theage.com.au/credit-crisis-sends-anz-reeling/20080218-1sta.html">ANZ Bank</a> down under as the <a href="http://www.nytimes.com/2008/02/12/business/12credit.html">"subprime" crisis</a> unravels. <a href="http://www.financialweek.com/apps/pbcs.dll/article?AID=/20080218/REG/794188688">AIG's CDS loss portfolio</a> has already climbed to $5 billion from a previsouly estimated $1 billion. <a href="http://www.metafilter.com/66576/Two-hedge-funds-that-predicted-subprime-crisis-see-corporate-debt-as-next-casualty">Previously</a> <a href="http://www.metafilter.com/64887/Cui-bono">on MeFi.</a> tag:metafilter.com,2008:site.69186 Mon, 18 Feb 2008 16:32:00 -0800 creditdefaultswap derivatives greed icanhaztrillions subprime unregulatedmarket WASF WhatWouldKudlowDo ryoshu