Fed Now Backstopping $75T of BAC Derivatives Trades

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#1 Wed, Oct 19, 2011 - 2:44am
CBDooper
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Fed Now Backstopping $75T of BAC Derivatives Trades

Edited by: CBDooper on Nov 8, 2014 - 5:03am
Wed, Oct 19, 2011 - 7:26pm
dabblingman
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Ummm....

Fuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuck. This is bad stuff.

Thu, Oct 20, 2011 - 1:56pm
clueless one
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wow.

Speechless, once again.

I cannot understand how they get away with this stuff...

I hate to even think it, but nothing will be fixed unless blood flows. I don't like it, I don't even like thinking about it...but it's fact. So many will lose everything. So sad. sad

"For nothing is secret, that shall not be made manifest; neither any thing hid, that shall not be known and come abroad" Luke 8:17 sounds a little like the current times, eh?
Sun, Oct 23, 2011 - 11:07pm
Ratatouille
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Too bad so sad

Yup, it's too bad that BAC is giving us $75 trillion in derivatives exposure... and so sad that the US banks ALREADY GAVE US OVER $100 TRILLION in derivatives exposure (ahem, I digress, forgive me). We are but poor pawns in the game of Central Banking Chess.

Oh, forget it. Read this, and withdraw your savings on MONDAY:

Seeking Alpha : https://seekingalpha.com/article/301260-bank-of-america-dumps-75-trillion-in-derivatives-on-u-s-taxpayers-with-federal-approval

Mon, Oct 24, 2011 - 1:39pm
BASEBALL 13
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BAC/Merrill Derivatives Exposure - Occupy Wall Street

If you live near any of these protests, it would be VERY USEFUL to notify them of this BAC action. An informed mob?...that would be a change! Draft a short description of the BAC derivatives move, make 100 copies and distribute them and ask others to do so as well. By mid-week we'll see some interesting media coverage...

Mon, Oct 24, 2011 - 3:05pm
UGrev
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I don't even know what to

I don't even know what to say.. I knew they were flushing it.. I had no idea that it was 75 TRILLION DOLLARS!! All I have to say is this: It better go south really quick.. I'm trying to live a life and raise a family and these mother fuckers are seriously fucking with me (by "me", I mean "us"). Rationality, logical reasoning and calmness are three things that I am finding harder to muster after reading stuff like this. 

Mon, Oct 24, 2011 - 3:13pm
backseatdriver
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Markets are primed

I saw this as well. This actually goes against assets and makes both JP Morgan and Bank of America banks technically insolvent (as if we didn't know that already) The markets are completely primed for the plugs to be pulled.

BSD

"Blessed are those who find wisdom,those who gain understanding, for she is more profitable than silver and yields better returns than gold" Prov 3:13-14
Wed, Oct 26, 2011 - 12:15am
Ratatouille
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If even 1% of 150 T hits the FDIC

When I was on Wall Street (30 years ago), we had crooks. You betcha. But we also had regulators who did their jobs and caught the crooks. So many in this country believe, naively, that regulators still catch crooks.

What they don't get is that there are NO regulators anymore with the power to take on these glacial banks. Professor William Black is on youtube back in MAY of 2011 talking about this derivatives mess that has been shifted over to taxpayers, and he was met with resounding silence.

There are plenty of posters out there on message boards who say, "Only a small percentage of these derivatives are risky." That's not the point, is it. It wouldn't take much more than 1% of 150 trillion (that, by the way, has priority settlement from FDIC over and before you, US depositor, at least according to some sources I've read) to hit and you would not get a penny from your so-called $250k of insured deposits. But the real point is that this is CRIMINAL and needs to be EXPOSED. I agree with the posters above; let's make some decent signs that address THIS problem and spread them around the Occupiers.

Wed, Oct 26, 2011 - 3:41pm (Reply to #8)
CBDooper
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OWS Poster

Courtesy of Santa, I would love to see a poster of this - uleak.it/?95p

It pretty much sums up the OWS situation so far. 

Thu, Oct 27, 2011 - 10:24am
Wizard
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Looks like they were able to

Looks like they were able to move the Credit Default Swaps just in time . Show of hands how many think we are screwed again?

Barclays Explains Why A 50% Greek Haircut "Would Be Considered A Credit Event, Consequently Triggering CDS Contracts"

https://www.zerohedge.com/news/barclays-explains-why-50-greek-haircut-would-be-considered-credit-event-consequently-triggering

Farce Is Complete As ISDA Finds 50% "Haircut" Is Not A Credit Event

https://www.zerohedge.com/news/farce-complete-isda-finds-50-haircut-not-credit-event

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