All the Devils from 2008 Are Back at the Megabanks: Leverage, Off-Balance-Sheet Debt, Over $192 Trillion in Derivatives, Shaky Capital Levels

by
Sharing is Caring!

TL;DR:

  • Derivatives Danger: Four major U.S. banks hold 87% of all derivatives, totaling $168.26 trillion.
  • Dodd-Frank Failure: The 2010 law failed to prevent the return of risky derivatives practices.
  • Leverage and Off-Balance Sheet Debt: Megabanks have excessive leverage and hide debt off their balance sheets.
  • Financial Crisis Repeat: The current situation resembles the 2008 crisis, with risks like those that led to Citigroup’s collapse.
  • Need for Reform: Congress should restore the Glass-Steagall Act to separate federally-insured banks from risky trading activities.
See also  JOEL KOTKIN: Elon Musk and Woke Capital are Locked In a Battle for the Future of America: This election has exposed sharp divisions between the US’s new feudal elites.
See also  The US deficit hits $1.8 trillion in 2024. Each worker owes $6,920 in interest.

wallstreetonparade.com/2024/08/all-the-devils-from-2008-are-back-at-the-megabanks-leverage-off-balance-sheet-debt-over-192-trillion-in-derivatives-shaky-capital-levels/

h/t F-uPayMe

Views: 84

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.