the main hit will be in 8 states that are dependent on production & refining - Mississippi being one of the 8... imo, we have GOT to put an end to speculation that doesnt require the buyer to accept delivery of the product ... from the page: These derivatives trades are largely unregulated, and even Forbes admits that they are likely to be at the heart of the coming financial collapse… No one understands the derivative risk positions of the Too Big To Fail Banks, JP Morgan Chase, Citigroup, Bank of America, Goldman Sachs or Morgan Stanley. There is presently no way to measure the risks involved in the leverage, quantity of collateral, or stability of counter-parties for these major institutions. To me personally they are big black holes capable of potential wrack and ruin. Without access to confidential internal data about these risky derivative positions the regulators cannot react in a timely and measured fashion to block the threat to financial stability, according to a National Bureau of Economic Research study.
Posted on: Tue, 30 Dec 2014 16:52:49 +0000