Governments worldwide at every level are filled with criminally stupid, but smug and arrogant idiots.
I doubt bailing that out is even possible
Wasn’t it after a depression in the 19th century that ordinary folk began string up bankers from lampposts?
No big deal here. Its nothing more than statists, who put their “spending” in bank accounts over the last 80 years, just want to make a withdrawal. What kind of money do they want their withdrawal in? Answer: in chaos, anarchy, communism, central control (theirs).
Why scam billions when you can scam...trillions?
I am expecting our national debt to go to a quadrillion dollars. With this bailout in the making that shouldn’t be to difficult to achieve.
Good thing derivatives are legal.
This was old news last year. It was $600 trillion then and $600 trillion now. The largest banks would be dead except for an accounting ploys. Guess what didn’t get marked to market on whose books.
aren’t derivatives essentially double dipping on a share of an asset or a loan. Package up securities up multiple times and then sell them. Contribute zero to society
More self-promotion nonsense. Derivatives are bets on underlying assets. One may bet on the assets to go up in value as well as to go down. Merely to state that there is a large investment in a particular instrument does NOT demonstrate that there is a bubble. Moreover, bubble exists when the instrument is unsustainable overPRICED. The amount of investment has nothng to do with the state being a bubble or not.
It appears that it is the writer's head that contains a bubble of hot air.
Jermone?
better invest in printing presses....since the feds and states dont want to cut spending