The Federal Reserve recently allowed Bank of America to move its massive derivative positions from the bank holding company to its banking subsidiary which is an FDIC insured depository institution. By allowing this transfer, the Federal Reserve has allowed Bank of America to shift the risk of loss on speculative derivative contracts from the non-bank […]
Bank Of America Derivatives Timebomb Shows System Is Corrupt To The Core
November 3, 2011 By 12 Comments
$1.2 Trillion Of Nervous Money Floods Into U.S. Banking System
September 9, 2011 By 1 Comment
With the European banking system tottering on the brink of collapse, nervous holders of cash have flooded the U.S. banking system with $1.2 trillion of deposits. Panicky holders of large amounts of cash are taking advantage of a provision of the Dodd-Frank Act that provides unlimited FDIC insurance coverage on noninterest-bearing transaction accounts. The Dodd-Frank […]