The $531 Trillion Dollar Derivatives Time Bomb

New York Times, May 9th 2003: “[Greenspan] detailed the potential dangers to financial markets if a big derivatives dealer had to exit the market. In his speech, delivered to the conference by satellite, Mr. Greenspan said that a single dealer accounts for about a third of the global market in both interest rate and credit derivatives, and a few dealers account for more than two-thirds.”
The $531 Trillion Dollar Derivatives Time Bomb