If you have $30 billion of GM debt underlying some multiple of that amount in outstanding credit-default swap contracts, then you need to have a way to cash-settle those contracts after a credit event. |
In addition to providing liquidity to our original shareholders, TA's resources and networks will accelerate our growth plans to take advantage of the significant opportunities in the credit derivatives market. |
It shows that the major dealers are committed to working on the major issues that the industry faces. |