Bank of America Dangerous Derivatives Deal
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Uploaded by TheYoungTurks on Oct 20, 2011
The Fed is supporting Bank Of America and its $75 trillion in derivatives bets. If BOA crashes, the American government/taxpayers will be left to clean up the mess. The Young Turks host Cenk Uygur explains from the Occupy Wall Street protests in New York City.
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Ron Paul!
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Bank of America lost my deposit it was my Christmas present it is New Years Eve and they still have my money. I filed with The Better Business Bureau and will be in Punta Gorda Florida small claims court asap in 2012
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@samoanpunch I am not disputing the amount of $75T in derivatives. That's the half truth part I said the guy used to make his argument sounds legit. I am questioning the suggestion that tax payers will be on the hook for entire $75T if something goes wrong (not that I think it's okay for us to be on the hook for even $1). From what I was reading, BoA would only be on the hook for a percentage of that amount. I just don't like people sensationalize their story to make a point...
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@deepseas Correct - and DEMAND that govts start issuing lnterest FREE Loans to people and small businesses.Repayments (small and spread over many years) are added to taxation (reducing tax bills) to fund health,education,infrastructur
e etc (all the necessities of a 21st century civilised society) Let the commercial banks TRY to survive with their Fresh Air Digital Loans (with interest!) that passes for the current "financial system" Peace from the UK -
THE PEOPLE BEHIND HIM DON'T KNOW WHAT HE JUST SAID.
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November 5, 2011 is national "move your money day." Move it to credit unions, small local banks, or online banks.
tedrusted 4 months ago 10
@FishizleGames He attended "leave no child behind" schools. Just a small sample of Bush's legacy.
kamalalovely 4 months ago 4