Speculative swaps grew to dwarf real insurance swaps
Volume of speculative swap contracts grew to dwarf those for actual insurance—$5 trillion bonds issued in world but $60 trillion bet on those bonds via Credit Default Swaps: ie for every bond, 10 people promising to pay full amount if bond goes bad.
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The Global Financial Crisis »The Global Financial Crisis
Immediate triggers of the financial crisis? »Immediate triggers of the financial crisis?
Pathology in the Credit Default Swaps market »Pathology in the Credit Default Swaps market
Speculative swaps grew to dwarf real insurance swaps
Global GDP in 2007 estimated to be $55-65 trillion »Global GDP in 2007 estimated to be $55-65 trillion
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