Jackpot...9 US banks go down tonight.

[cleanhouse]

Originally Posted by obo

Holy spinning disrotation batman!

Isnt it amazing how blind they are?

[cleanhouse]

Most people have their heads in the sand. Government interference created the mess then they tell us they can fix the mess.

[idahogie]

Originally Posted by cleanhouse

Most people have their heads in the sand. Government interference created the mess then they tell us they can fix the mess.

Government interference in the form of allowing Wall Street to create a completely unregulated $70 trillion market in derivatives that evaporated when there was a very slight uptick in the home mortgage default rate.

So blame the government - but it was their inaction, lack of oversight, and reliance on industry self-regulation that did it. Both Clinton and Bush are to blame - but it was conservative policies that they embraced.

[HappyTexan]

Originally Posted by idahogie

Government interference in the form of allowing Wall Street to create a completely unregulated $70 trillion market in derivatives that evaporated when there was a very slight uptick in the home mortgage default rate.

So blame the government - but it was their inaction, lack of oversight, and reliance on industry self-regulation that did it. Both Clinton and Bush are to blame - but it was conservative policies that they embraced.

Idahogie..those derivatives did not evaporate. They are alive and well.
JPMorgan is the granddaddy of the holders. Total out there is $529 Trillion.

[BigJon3475]

Originally Posted by HappyTexan

Idahogie..those derivatives did not evaporate. They are alive and well.
JPMorgan is the granddaddy of the holders. Total out there is $529 Trillion.

Not trying to be an a**..

BIS reported a notional amount outstanding of $592 trillion

Testimony Concerning Regulation of Over-The-Counter Derivatives (Chairman Mary Schapiro, June 22, 2009)