$700 Billion Bailout Could Balloon to $5 Trillion

Bloomberg Analyst: $700 Billion Bailout Could Balloon to $5 Trillion

“So now they try to solve the problem by having this credit bubble actually extended and I think the $700 billion will be like a drop in the bucket because the total credit market in the U.S. is something close to $60 trillion, then you have the CDS market – credit default swap – of around $62 trillion. Then you have the whole derivatives worldwide worth about a notional $1,300 trillion. So the $700 billion is really nothing and the Treasury is just giving out this figure when actually the end figure may be $5 trillion.”

Source: Bloomberg TV
09-26-2008

To see the video:

http://www.breitbart.tv/?p=182363