Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
JP Morgan has also sold fantastic amount of CDS. They invented them. And they're still peddling them.

Anyway, from the FDIC's site: Off-Balance Sheet Activities

Additionally, swaps, futures, forwards, and option contracts are derivative instruments whose notional values are carried off-balance sheet, but whose fair values are recorded on the balance sheet.

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith
by Carrie (migeru at eurotrib dot com) on Sun Mar 22nd, 2009 at 06:24:53 PM EST
[ Parent ]

Others have rated this comment as follows:


Occasional Series