PMorgan Chase and Goldman Sachs Group, among the world’s biggest traders of CDS, disclosed to shareholders that they have sold protection on more than $5 trillion of debt globally.

According to the information provided by the above two CDS issuers, JP and Goldman have written USD 3 and 2 Trillions against to the PIIGS sovereign credit respectively.

I cant imagine JP and Goldman are able to pay 5 Trillions if the Euro crises spread out.
In short, the US Financial institutes will be greatly affected by Euro crises. be Prepared.

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