Over the weekend, the firm reduced its long positions in the sovereign debt of Portugal, Italy, Ireland, Greece and Spain by $1.1 billion, and its short positions by the same amount, for a total reduction of 49.5 percent of its gross exposure to the debt of those countries.
According to the Bank for International Settlements, the entire derivatives market had a gross credit exposure of $3.5 trillion at the end of 2009.
He co-chairs the UVA President's Commission on Slavery and the University and noted there was a bit more interest in his work after the summer's gross exposure of extant American racism.
The less conservative figure, the gross exposure, is $78.7 billion for Greece, according to Markit.
The gross exposure of the five most financially pressed European Union countries — Portugal, Italy, Ireland, Greece and Spain — is about $616 billion.
In addition, it has about $14.4 billion of gross exposure to France and Belgium.
The bank has about $20 billion in gross exposure to the peripheral countries, like Greece, Ireland, Italy, Portugal and Spain.
By that September, given the decline in the value of those instruments, Goldman's gross exposure was $10 billion.
The firm said that despite having more than $2.4 billion in gross exposure, its hedging of those securities with short positions meant it had only $9 million in net exposure.
What's more, the blog picked only the gross exposure, which included client assets, and those of the bank, held at French institutions.
