Reply #22: Now that we've started turning over rocks...

[chervilant]

Consider Brooksley Born, the 'uppity female' who challenged the primacy of Uncle Miltie and his minions. They berated, then 'negated' her, largely because she knew whereof she spoke.

Here's what should be of concern to everyone watching with bated breath as the global economy teeters on the brink of catastrophic reordering:

{Born} once again warned about the danger of Dark Markets, now grown to $680 trillion of notional value, according to the Bank for International Settlements -- "more than 10 times the amount of the gross national product of all the countries in the world."

(emphasis mine)

Does anyone out there TRULY believe that our global economy has the combined resources to cover this ginormous financial Black Hole?! So, even the most math-challenged average human being can see that these 'derivatives' are literally worthless...



(Oh, and, just FYI, there are many, many more of us who are savvy about matters economic than Summers, Geithner and their ilk would care to acknowledge...)