As a former trader and knowing the risks, is John Key over confident his former employers know what they are doing even though Merrill Lynch failed so spectacularly and now swallowed up into Goldman Sachs - the big kahuna in the banking world ? Presuming that is where the $114b is planted. 
Go to the top of the class if you understand the  "Big Risk" when regulators apparently don't understand the game.

1. The Dollar Economy is a Pyramid Scheme: Who Gets Screwed?

http://www.opednews.com/populum/printer_friendly.php?content=a&id=164588


2. Big Risk: $1.2 Quadrillion Derivatives Market Dwarfs World GDP - DailyFinance

http://www.dailyfinance.com/2010/06/09/risk-quadrillion-derivatives-market-gdp/

3. The Warning | FRONTLINE | PBS

Brooksley Born warned the powers that be that the unregulated derivatives market would bring the whole system down but was ignored then dismissed............

"We didn't truly know the dangers of the market, because it was a dark market," says Brooksley Born, the head of an obscure federal regulatory agency -- the Commodity Futures Trading Commission [CFTC] -- who not only warned of the potential for economic meltdown in the late 1990s, but also tried to convince the country's key economic powerbrokers to take actions that could have helped avert the crisis. "They were totally opposed to it," Born says. "That puzzled me. What was it that was in this market that had to be hidden?" (more »)

http://www.pbs.org/wgbh/pages/frontline/warning/view/