In April, Gibson took a $20 million charge to cover its derivatives losses and sued Bankers Trust over the deal in September.

Moreover, the kind of derivatives losses reported in recent months by companies is not the kind of problem that most worries central bankers and economists.

The biggest derivatives loss by an American company came last year and it came as no surprise to the loser, Sears, Roebuck & Company.

Clients were scared off because of the publicized disputes between Bankers Trust and several companies, including Procter & Gamble, over derivatives losses.

He added: "This was a good year and, if not for the derivatives loss, it would have been a great year.

Honda Motor's profit fell 3.1 percent in the latest quarter on derivatives losses, but sales rose in all its major markets.

In December, Wharton wrote a huge derivatives loss into its case.

This was a drop in the ocean compared to the derivatives losses @ just under $700 trillion (and that's only what they have admitted to so far).

But the day after its revelation about its derivatives loss, China Aviation announced that its shareholders had rejected the deal.

The derivatives losses themselves did not drag down earnings, because the bank chose to charge them against its reserve for bad loans.