James:
It appears [corporate, hedge fund, and bank funds managers] have been playing a modern day Enron game with the OTC (Over The Counter) derivatives market. They have been taking their bad debts, and credit default swaps (CDSs), failed commercial loans, and construction loans and moving them to this unregulated and unlisted market to hide the true size of their toxic debts.
Half of the financial monstrosity is projected to be in this “hide the bad debt” game. The [aggregate notional] number is so surreal, it is mind boggling.
I may have missed you posting the recent article in The International Forecaster, but just in case it did not get mentioned, here it is: The Quadrillion Dollar Powder Keg Waiting to Blow. Regards, – OSR