Fitch’s has found that JP Morgan Chase, Bank of America, Goldman Sachs, Citigroup, and Morgan Stanley together hold 80% of the country’s derivatives risk, and 96% of the exposure to credit derivatives:About 80% of the derivative assets and liabilities …
Posts Tagged ‘credit default swaps’
States’ Projected Budget Gap: $166 Billion. AIG Bailout to Cover Gambling Debts: $180 Billion. Portion that Went to Foreign Banks: $40 Billion.
July 24th, 2009 |
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Arianna Huffington writes:America’s states are facing a projected cumulative budget gap of $166 billion for fiscal 2010. Even more budget gaps are expected for fiscal 2011. Total shortfalls through 2011 are estimated at $350 billion to $370 billion -…
Congress Woman Introduces Bill to Ban All Credit Default Swaps
July 17th, 2009 |
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I’m a little late to this story, but last week Congresswoman Maxine Waters introduced a bill to ban all credit default swaps.As Waters said:Preventing all credit-default swaps is essential to bringing stability to the market and preventing a similar cr…
Diane Francis: Goldman Sacks and Plunders
July 17th, 2009 |
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Goldman Sachs cannot argue that the proceeds it received from the AIG rescue did not constitute an indirect bailout any more than can auto parts makers who are saved by Detroit’s bailout.
Paul Abrams: Geithner, Congress, Wake Up!: Before Bonuses, Goldman Should Pay Me Back the $30B Laundered Through AIG
July 16th, 2009 |
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Wall Street mythologists are now spinning the yarn that Goldman Sachs paid back the money it took from taxpayers and thus ought to be free to award enormous bonuses to their senior executives.
Head of $25 Billion Templeton Fund: Derivatives Will Cause Another Crisis
July 15th, 2009 |
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I have repeatedly warned that credit default swaps are not meaningfully being reigned in, and that the failure to do so will cause future problems.Mark Mobius – executive chairman of the $25 billion dollar Templeton asset management fund – agrees:A new…
Les Leopold: Happy Days are Here Again! (Here = Wall Street)
July 14th, 2009 |
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What did Goldman Sachs actually do that was useful for society, after having helped to drive our economy off a cliff? And why aren’t our elected leaders doing something about it?