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derivatives

Goldman and JPM Still Playing with Other People's Money

6 Comments / bubble, CDO, Corruption, currency, Mortgage, securities fraud / By

The five biggest U.S. commercial banks in the derivatives market — JPMorgan, Goldman Sachs, Bank of America Corp., Citigroup and Wells Fargo & Co. — account for 97 percent of the notional value of derivatives held in the banking industry [$605 trillion], according to the Office of the Comptroller of the Currency. Goldman Sachs Demands …

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Credit Default Swaps Must Go

1 Comment / bubble, CDO, Corruption, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud / By

The fact is that credit default swaps and other complex derivatives that have proved to be instruments of mass destruction still remain entrenched in our financial system three years after our economy was almost brought to its knees. Editor’s Note: Credit default swaps were the glue that held the mortgage meltdown scheme together. If there …

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