According to the Comptroller of the Currency, the “too big to - TopicsExpress



          

According to the Comptroller of the Currency, the “too big to fail” banks have exposure to derivatives that is absolutely mind blowing. Just check out the following numbers from an official U.S. government report…. JPMorgan Chase – $70.1 Trillion Citibank – $52.1 Trillion Bank of America – $50.1 Trillion Goldman Sachs – $44.2 Trillion So a 2 billion dollar loss for JP Morgan is nothing compared to their total exposure of over 70 trillion dollars. Overall, the 9 largest U.S. banks have a total of more than 200 trillion dollars of exposure to derivatives. That is approximately 3 times the size of the entire global economy. It is hard for the average person on the street to begin to comprehend how immense this derivatives bubble is.
Posted on: Sat, 19 Oct 2013 14:13:51 +0000

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