[Seizethecarp]

Ping to the Seizethecarp list for what I regard as a pretty shocking accusation leveled against the Fed by the NY Times Editorial Board!

One financial writer this weekend said that Banks may have put US taxpayers on the hook for $1trillion in oil derivatives caused by the sudden fall in oil and the ruble!

“Russian Roulette: Taxpayers Could Be on the Hook for Trillions in Oil Derivatives”

http://econintersect.com/b2evolution/blog2.php/2014/12/28/russian-roulette-taxpayers-could-be-on-the-hook-for-trillions-in-oil-derivatives

“The sudden dramatic collapse in the price of oil appears to be an act of geopolitical warfare against Russia. The result could be trillions of dollars in oil derivative losses; and the FDIC could be liable, following repeal of key portions of the Dodd-Frank Act last weekend.”

[LucyT]

"...shocking accusation leveled against the Fed by the NY Times Editorial Board!

One financial writer this weekend said that Banks may have put US taxpayers on the hook for $1trillion in oil derivatives caused by the sudden fall in oil and the ruble! “Russian Roulette: Taxpayers Could Be on the Hook for Trillions in Oil Derivatives”

http://econintersect.com/b2evolution/blog2.php/2014/12/28/russian-roulette-taxpayers-could-be-on-the-hook-for-trillions-in-oil-derivatives

“The sudden dramatic collapse in the price of oil appears to be an act of geopolitical warfare against Russia. The result could be trillions of dollars in oil derivative losses; and the FDIC could be liable, following repeal of key portions of the Dodd-Frank Act last weekend.”

Thanks, Seizethecarp.

[SunkenCiv]

Thanks Seizethecarp. Here's the real agenda:

...the FDIC could be liable, following repeal of key portions of the Dodd-Frank Act last weekend.

[zeestephen]

I read the link in this Comment and find it difficult to believe.

If I understand correctly, Bank of America and other major banks are taking FDIC insured deposits and investing them in oil derivatives?

Such derivatives would have to be marked-to-market each night, in other words, their value would now be dropping almost every day, and that loss would be reflected on the bank's balance sheet each day.

Yet, no major banks are currently insolvent, or on FDIC life support, or even on anybody’s watch list.

Either I don't understand, or the information in the link is wrong.

[Toddsterpatriot]

Ellen is funny.

And really really bad at math.