STOCK MARKET WATCH -- Monday, 8 December 2014

[DemReadingDU]

21. Michael Snyder - 5 TBTF banks each have more than 40 trillion dollars in exposure to derivatives

12/7/14 New Law Would Make Taxpayers Potentially Liable For TRILLIONS In Derivatives Losses by Michael Snyder
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As you read this, there are five Wall Street banks that each have more than 40 trillion dollars in exposure to derivatives.

JPMorgan Chase
Total Assets: $2,520,336,000,000 (about 2.5 trillion dollars)
Total Exposure To Derivatives: $68,326,075,000,000 (more than 68 trillion dollars)

Citibank
Total Assets: $1,909,715,000,000 (slightly more than 1.9 trillion dollars)
Total Exposure To Derivatives: $61,753,462,000,000 (more than 61 trillion dollars)

Goldman Sachs
Total Assets: $860,008,000,000 (less than a trillion dollars)
Total Exposure To Derivatives: $57,695,156,000,000 (more than 57 trillion dollars)

Bank Of America
Total Assets: $2,172,001,000,000 (a bit more than 2.1 trillion dollars)
Total Exposure To Derivatives: $55,472,434,000,000 (more than 55 trillion dollars)

Morgan Stanley
Total Assets: $826,568,000,000 (less than a trillion dollars)
Total Exposure To Derivatives: $44,134,518,000,000 (more than 44 trillion dollars)


Those that follow my website regularly will note that the derivatives exposure for the top four banks has gone up significantly since I last wrote about this just a few months ago. Do you want to be on the hook for all of that?

Keep in mind that the U.S. national debt is only about 18 trillion dollars at this point. So why in the world would we want to guarantee losses that could potentially be far greater than our entire national debt?

Only a complete and utter fool would financially guarantee these incredibly reckless bets.

more...
http://theeconomiccollapseblog.com/archives/new-law-make-taxpayers-potentially-liable-trillions-derivatives-losses