At this website, we have been sharing with our readers the problem of the unregulated credit default swaps (CDS), aka financial instruments of mass destruction.  As of December, 2010, the total of CDS stood at $29.9 Trillion according to the Bank of International Settlements (BIS).  See: http://www.bis.org/publ/otc_hy1105.pdf   These unregulated instruments are embedded in bank balance … Continue reading Meltdown Ahead?