Tuesday, July 06, 2010
$600+ Trillion In Unregulated Derivatives, And Growing...
With the death of Senator Byrd, the Financial Regulation Bill is dead in the water. As a result, absolutely nothing has changed, except the Banksters have an awesome lifeline on our dime.
Using TARP funds, the Banksters didn't scale back, and pay down their outstanding investments, instead, they doubled-down with more OTC Derivatives. Ticking time-bombs.
I just heard it brought up briefly on NPR. I got the shivers. It all needs to settle out, and reconcile at some point. It won't be pretty.
At any rate, Barry Ritholtz has a great article on Contrarian Investing at his place.
Here's the Brief Overview of the GEAB #46 Special Summer 2010 Edition from LEAP2020. They are quite legit. Bookmark the LEAP 2020 Home Link. Always fascinating reading.
World GDP is ~$64 Trillion. How's that for leverage?
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Labels: Collapse, Fail, Global Economy, Globalization, Wall Street Casino
