Derivatives Are Manipulated Runaway derivatives – especially credit default swaps (CDS) – were one of the main causes of the 2008 financial crisis. Congress never fixed the problem, and actually made it worse. The big banks have long manipulated…
Tag: big banks
RBS Pays $600 Million for Manpulating Interest Rates … But Big Banks Are Manipulating EVERY Market to the Tune of Trillions of Dollars Interest Rates Are Manipulated Bloomberg reports today: Royal Bank of Scotland Group Plc…
Government Sides with the Big Banks Every Time Ellen Brown noted recently that Detroit is yet another example of the government choosing big banks over the American people: The argument for the super-priority of derivative claims [background]…
Some four years after the 2008 financial crisis, public trust in banks is as low as ever. Sophisticated investors describe big banks as “black boxes” that may still be concealing enormous risks—the sort that could…
Big Banks Don’t Commit Any Crimes … Do They? Here are some recent improprieties by the big banks: Laundering money for drug cartels. See this, this, this and this (indeed, drug dealers kept the banking system afloat during the depths of the 2008…
JPMorgan Chase, the biggest US bank by assets, announced Friday that the trading loss from derivatives bets made by its Chief Investment Office (CIO) had reached $5.8 billion, nearly three times the amount the company…