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Fed's rescue halted a derivatives Chernobyl - Telegraph

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We may never know for sure whether the Federal Reserve's rescue of Bear Stearns averted a seizure of the $516 trillion derivatives system, the ultimate Chernobyl for global finance.

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{"commentId":1610856,"authorDomain":"headinthegame"}

"There was the risk of a total meltdown at the beginning of last week. I don't think most people have any idea how bad this chain could have been, and I am still not sure the Fed can maintain the solvency of the US banking system."

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    Reply#1 - Sun Mar 23, 2008 10:40 AM EDT
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