It probably is nothing though because this new market is only worth about $45.5 trillion or twice the size of the US stock market. These people are professionals, so surely they've taken precautions, right?
No one knows how troubled the credit swaps market is, because, like the now-distressed market for subprime mortgage securities, it is unregulated. But because swaps have proliferated so rapidly, experts say that a hiccup in this market could set off a chain reaction of losses at financial institutions, making it even harder for borrowers to get loans that grease economic activity.
