Italy faces about 8 billion loses in derivatives (bets)

Same as with Greece where they magicly fixed budget deficits so they could join the EU.
Same US bank involved where in Italy we have Mr Draghi approving derivatives contracts in the 1990s before he joined Goldman Sachs International.

Italy faces restructured derivatives hit

Greece and Goldman Sachs:
www.spiegel.de...

And this does not stand alone, if you see in my country where city's, hospitales, retirement bonds lost (and still loosing) allot on derivatives contracts, sold by sneaky banksters.

Someone must be getting rich but the normal people must suffer with those casino games.

What a shame. You'd think they would be required to show some responsibility with our money while they're holding it.

reply to post by Plugin


I'm so sorry to hear Italy seems to be falling as one of the first.

And this does not stand alone, if you see in my country where city's, hospitales, retirement bonds lost (and still loosing) allot on derivatives contracts, sold by sneaky banksters.

I've tried and tried to explain this for American finances because ours work the same way for inter-connections and Interdependencey. People look on the national debt, as they've been trained to since birth, and see a "big blob" of someone else's problem. Never considering where the bonds for school improvements in the neighborhood or retirement funds for the Cop, Teacher or Autoworker are all tied into. (sigh)

The realization will be more brutal to see than the problem has been in watching it form. I hope Italy weathers this intact by the end.