ML had 75 trillion (yes, trillion, and yes 'had') of derivatives. After ML got downgraded by Moody's, they moved much, if not all of it, to the deposit branch of BoA, because they were rated higher.
The problem is, if that 75 trillion tanks, much or all of it is potentially covered by the FDIC.
no subject
ML had 75 trillion (yes, trillion, and yes 'had') of derivatives. After ML got downgraded by Moody's, they moved much, if not all of it, to the deposit branch of BoA, because they were rated higher.
The problem is, if that 75 trillion tanks, much or all of it is potentially covered by the FDIC.