Is There a Collateral Squeeze?

Back of the envelope calculation would suggest that maybe we've lost something like 20 to 30 trillion dollars. The collateral squeeze bothers me because it might be quite profound. There just aren't enough government and safe, safe, liquid assets to go around. And so it requires these dealer banks inside the system to re use, repledge, and even occasionally rehypothe good assets in order to distribute them. But there are times when, first of all, bad collateral gets into the that was really the issue. It sub prime mortgages, not h mortgages themselves, but they were used as collateral in these repo markets and some derivative markets too. When, you know, eventually the market said, this is