This is a rather shocking summary by Kash Mansori of the latest data from the Bank of International Settlements. Turns out our banks are exposed to the tune of $193 billion, if I am doing the math right, and the majority of that is credit default swaps. Most angering. I am outraged that taxpayers are exposed to this through too-big-to-fail banks. I had been wondering what the exposure was, and now we have an idea. There should be a Congressional investigation. Short piece, and I have shot Kash an email to figure out where he got tables from the original BIS 146-page report, which is nothing but table. Someone did a lot of work.