Friday, January 1, 2010
Read this, you might learn something.
Mr. Geithner, letâ€™s start your education by simply looking at the number of zeros in $100 trillion. Are you ready for this? You better sit down because it should blow your mind away: $100,000,000,000,000. Iâ€™ll now give you another frightening number, and thatâ€™s $1.144 quadrillion, which is the approximate notional value of all outstanding derivatives. This $1,144,000,000,000,000 is a number that will only continue to grow since you and your helicopter partner firmly installed a moral hazard framework into the whole financial system with your global bailout.