Letter Re: Drastic Changes in the Global Derivatives Market–Be Ready for the Mother of All Bailouts
Jim, Scroll down this article to the link to the Quarterly Derivatives Fact Sheet. It shows Citi[Bank] exposed to $3 trillion and J.P. Morgan at $7.8 trillion [in OTC derivatives.] Continue to the bottom of the piece for “Intelligence Czar Can Waive SEC Rules.” It looks like the Plunge Protection Team is operating in overdrive. Eisenhower warned of “The military-industrial complex”. What about the corporate-government complex? This looks like something Il Duce would have been proud of. Best wishes for our free enterprise system, – William JWR Replies: I’m glad to see that some readers took the time to look …