Detailed text transcripts for TV channel - MSNBC - 20111104:20:08:00
Legal to give the greeks this kind of leverage. >> well, look at the swaps market. the swaps market is anywhere between $300 billion and $600 billion -- >> trillion! >> trillion, trillion dollars. and the whole global economy, you know, its capital value, is not that much. it's a fraction of that much. which means if rhode island fails, just the swaps on rhode island's debt is enough to take down the entire u.s. banking system and ripple across the pond. and that's exactly the problem. greece is like rhode island failing. >> that's the interconnectedness, and that's why you need not just finan...
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