Zombie banks - Dead "men" walking

Discussion in 'Economy' started by DavidS, Mar 9, 2009.

  1. DavidS
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    DavidS Anti-Tea Party Member

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    Financial reports show 5 biggest banks face huge loss risk | McClatchy Washington Bureau

    WASHINGTON — America's five largest banks, which already have received $145 billion in taxpayer bailout dollars, still face potentially catastrophic losses from exotic investments if economic conditions substantially worsen, their latest financial reports show.



    Citibank, Bank of America, HSBC Bank USA, Wells Fargo Bank and J.P. Morgan Chase reported that their "current" net loss risks from derivatives — insurance-like bets tied to a loan or other underlying asset — surged to $587 billion as of Dec. 31. Buried in end-of-the-year regulatory reports that McClatchy has reviewed, the figures reflect a jump of 49 percent in just 90 days.
     
  2. wimpy77
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    wimpy77 Member

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    im at the point where im ready to say let em fail, but the government will still bail them out.
     
  3. Chris
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    Chris Gold Member

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    The exposure caused by the derivative bubble is $519 trillion dollars.

    The total GDP of all the nations in the world in one year is $50 trillion dollars.
     

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