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So what did big banks lean from the financial crisis? Not a Damn thing

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posted on Oct, 13 2012 @ 10:50 AM
Normally I don't follow business news stories but this one caught my eye this morning.

In case anyone cares whether Dodd-Frank or the Volcker Rule defused those financial weapons of mass destruction known as derivatives, they can start worrying. Not only have the rules failed to curtail the risky FWMD, but they are larger than at the height of the financial crisis. And they are concentrated in four banks: JPMorgan Chase (ticker: JPM), Citigroup's Citibank (C), Bank of America (BAC), and Goldman Sachs (GS).

That's according to the second-quarter derivatives report of the Office of the Comptroller of the Currency. It tallied $222.5 trillion of notional derivatives held by insured U.S. commercial banks and savings associations, compared with $203.5 trillion in the second quarter of 2009.


So it seems like the good ole boys are back at their old tricks again.
The rich get richer by stealing from the rest of us.

Anyone want to make a guess at how much they'll need from us tax payers when the bottom falls out this time?

posted on Oct, 13 2012 @ 10:52 AM
Oh they learned something alright, they learned that they can do whatever they want and their puppets in the government will use to taxpayer to bail them out.

Well, that is till they blow it all up (which is also planned)

posted on Jul, 21 2014 @ 06:02 AM
Numerous opponents to the Volcker Rule, including conservative members of Congress, believe that the rule will have a number of unintended consequences, including reduced liquidity in corporate bonds and increased transaction costs for investors. A study by global consulting firm Oliver Wyman broke down some of the projected costs and impacts of the Volcker Rule. Even the dumbest banker can get around the Volcker rule. The regulators started with a weak statute, and managed to make it weaker. It’s as though they want to avoid offending the banks.

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