Tuesday, December 03, 2013

Heading Over The Edge With Derivatives...

Taking the plunge...

With the full, complicit encouragement of the NCUA:

Credit unions will shortly join the "big boys" - Wall St. dealers and traders - in the derivatives market. Vying to outwit the best and brightest, who have promised to help credit unions, while also serving as their "investment" counterparties!  Should be a thrilling ride!

Just for the record, thought you might like to take a look at the current derivatives exposures of America's four largest banks...

*  JPMorgan Chase - Total assets:  $ 1.9 trillion.
        Total exposure to derivatives:  $70+ trillion.

*  Bank of  America - Total assists:  $ 1.4 trillion.
         Total exposure to derivatives:  $44+ trillion.

*  Citibank -                Total assets:  $ 1.3 trillion.
         Total exposure to derivatives: $ 58+ trillion.

*  Goldman Sachs -     Total assets: $  0.2 billion!
         Total exposure to derivatives: $ 42+ trillion.
             (* Source data: Michael Snyder/Naked Capitalism)


The "first derivative"...
s-s-shocking isn't it!
Derivatives: Fire, Aim, Ready!


1 comment:

Anonymous said...

How does a credit union do "due diligence" on Goldman Sachs or Citi?

This is a very dangerous joke.