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Taxpayers Take Notice.

Discussion in 'Politics, Elections & Legislation' started by TinMan88, Oct 19, 2011.

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  1. TinMan88

    TinMan88 TS Member

    Mar 5, 2007
    As being reported this morning Bank of America has transfered 75 TRILLION worth of derivitives products from its Merril Lynch division to BoA which puts the exposure to default on FDIC/Feral Reserve. Lets see how much coverage this garners. Source Bloomberg.

    Those Wall St. folks are a bunch of nice guys... Whats in YOUR wallet?
  2. mrskeet410

    mrskeet410 TS Member

    Jan 29, 1998
    There's the Bloomberg article at the link. Merrill doesn't have 75 trillion in derivatives. And it's not a done deal. Read closely.

    Sounds like a good reason for the Volcker Amendment.

    BTW - Entire budget of US Gov't is ~$3.4 trillion. GDP of USA is ~$14 trillion.

    Long addy, cut-and-past -

  3. dalog

    dalog Member

    Apr 4, 2010
    Or click on this link
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