Yeah, the table does better at identifying what it is not than what it is.  But I recall some statistics about "shadow banking" that indicated that CDSs were a relatively small part of a $500 Trillion pie.  And I have been suggesting, and TBG has been sort of agreeing for four or five months that dissolution of credit default swaps by governmental agencies would be a good thing.

"It is not necessary to have hope in order to persevere."