scary us economic catastrophe article., page-12

I'm not going to be left out here

My scary afternoon nana nap story is.........


The latest Reserve Bank Bulletin reveals that Australian banks have more than $13 trillion in off-balance-sheet derivative exposures, compared with $5.4 trillion six years ago.

If just 1 per cent of these blew up because third parties at the other end got into trouble, the whole shareholder wealth would be wiped out and the banks could be broke.

http://www.theaustralian.news.com.au/business/story/0,28124,24512665-5012439,00.html