As An Encore to Bailing Out the Big Banks, Government to Backstop Derivatives Clearinghouses … In the U.S. and Abroad
… Which Will Lead to Bailouts and Encourage Even More Fraud
The government has been bailing out the giant, insolvent banks for years. (Many of the bailed out banks are foreign.)
That is preventing the economy from recovering … like countries that have grabbed the bull by the horns.
The government has allowed the amount of derivatives to reach 1.2 quadrillion dollars.
That is feeding the parasite of casino gambling … which is preventing the real economy from recovering and is killing the host of actual productivity.
What is the government doing for an encore? Bailing out the derivatives clearinghouses.