Not that you’d read it in the mainstream media but there is no recovery from the collapsing financial world any time soon. What could be up to 1.5 Quadrillion in derivatives is going to disappear and includes the ones our government has invested in!
Bankia the Spanish bank which totally collapsed in the last two weeks was a train wreck waiting to happen but was just one example of how the bankers are trying to hold it all together. That this is not working is becoming clear in the other train wreck that is JP Morgan Chase. Other than the disastrous gabling operation which collapsed two weeks ago it turns out now that they have been lying about the value of their CDS (Collateral Default Swap derivative) portfolio, possibly to the tune of Hundreds of Billions of dollars. Watch this space!!!