Spice300
Premium
join:2006-01-10
| Derivatives: Bailed-Out Banks Still Making Billions Off Risk
Derivatives: Bailed-Out Banks Still Making Billions Off Risky Bets, Huffington Post, Sept. 28, 2009:
quote:
U.S. commercial banks earned $5.2 billion trading derivatives in the second quarter of 2009, a 225 percent increase from the same period last year, according to the Treasury Department.
More than 1,100 banks now trade in derivatives, a 14 percent increase from last year. Four banks control the market: JPMorgan Chase, Goldman Sachs, Bank of America and Citibank account for 94 percent of the total derivatives reported to be held by U.S. commercial banks....
The bankers will continue their irresponsible, risky investment behavior exposing the economy to disaster until they are properly regulated again. They can not be trusted to self-regulate. |
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redxii
too big to fail
Premium,Mod
join:2001-02-26
Texas | What risk? There's no risk. The government has already made it clear: 'We got your back!'. |
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Mashiki
Balking The Enemy's Plans
join:2002-02-04
Woodstock, ON | Well I suppose if you can simply flip on the presses to make money there is no risk. Now...who else has done that before?  |
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Spice300
Premium
join:2006-01-10
| reply to redxii
said by redxii  :There's no risk. The government has already made it clear: 'We got your back!'. So true  |
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patcat88
join:2002-04-05
Jamaica, NY
| reply to Spice300
Derivatives aren't a problem, banks use net accounting among each other. I buy a bet on Burger King from you, you buy a bet on McDonalds from me. In the end, no money changed hands, unless some trolls with stats investing, naked short selling, and market loopholes come by and the Revolutionary Square Journal and Pioneers News and Business Channel forgot to take their their government prescribed meds and had a capitalism scare and all the lemmings followed them off the cliff. |
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Full Power
"Cloture" is not a word.
join:2009-09-25
Houston, TX
4 edits | Started new thread. |
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Loco
Premium
join:2002-11-09
So Cal
 ·RoadRunner Cable
| reply to redxii
said by redxii :What risk? There's no risk. The government has already made it clear: 'We got your back!'. Thats exactly right..LMFAO ! |
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