Reply #90: This might just be a coincidence...

[slipslidingaway]

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=4055932&mesg_id=4055932

Why I'll be dreaming of the 700 billion figure tonight....

I wonder how Paulson arrived at the 700 billion number, interesting sentence below and surely just a coincidence.


http://contraryinvestor.com/2008archives/momar08.htm

Fourth paragraph from the bottom

"...Trajectory, growth, rhythm and magnitude of global credit derivatives expansion is quite like the character we observed above for the US banking system proper. In three short years, global CDS exposure has increased roughly nine-fold. We're talking about close to $45 trillion of credit derivatives on a notional basis. The BIS kindly estimates a gross cash market value for this exposure at $700 billion..."


Jumped out at me when looking for information for this thread.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=4055053&mesg_id=4055053