http://www.chicagobusiness.com/cgi-bin/news.pl?id=31305 The beginning of the end, and the beginning of the beginning. nitro
Instead of 700b going to broken banks it should have gone to setting up a clearing and insurance mechanism for the trades. This type of solution could be in the ball park. Especially if it removes counter party risk. The problem will be that an exchange like this could prove that trillions of dollars of debt is virtually worthless.