According to the New York Times there are $US45 trillion in CDSs protecting loans totalling only $US15.7 trillion. If loans start collapsing, the underwriters of CDSs (those betting on survival) are going to fall over like flies, threatening the whole derivatives market and confirming the Warren Buffett warning that derivatives are "financial weapons of mass destruction".
According to the New York Times there are $US45 trillion in CDSs...
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