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JPMorgan Chase and Citibank Have $2.96T Exposure to Credit Default Swaps

20 points by cinquemb 7y ago

gentleman11 7y ago
Is this source trustworthy? Edit: to clarify, CBC says that the Canadian government is warning about a lot of Russian “disinformation” going around, so it’s nice when news sources are familiar or vetted
- user5994461 7y ago
  If it's true, we will certainly hear about it in a more reputable newspapers soon enough. I personally wouldn't consider that site trustworthy.
- gkuhl21 7y ago
  I have been following wallstreetonparade.com for months. Although the major media and the federal government does not talk about it, I believe wallstreetonparade.com. There are great theoretical considerations of disaster capitalism, such as "The Shock Doctrine" by Naomi Klein, which hopefully everybody has read by now. I recently read another good one, which I found at City Lights Bookstore in SF: "The Making of the Indebted Man", by Maurizio Lazzarato. This book is insightful, and a treasure. Coronavirus is certainly a problem, no question. However, there was already a problem occuring. Edit: See for yourself. Go to the NY Fed website and look at the numbers. They takeoff in September. https://apps.newyorkfed.org/markets/autorates/tomo-results-display?startDate=8/1/2019&endDate=3/22/2020&PageNumber=14&PageSize=25 https://apps.newyorkfed.org/markets/autorates/tomo-results-d...
echelon 7y ago
Just what we need, potentially another banking collapse. The timing couldn't be worse. Are there any good forecasts of this looming recession? Will this be worse than the Great Depression? How long will it take things to snap back?
- nodesocket 7y ago
  My thought is that the banks won't be failing here. They are in much better shape than '08, have tighter policies, and perform stress tests.
  - nathanaldensr 7y ago
    That's a common refrain but just how true is it considering the shadow banking system? People said similar dismissive things in 2008, too.
- vearwhershuh 7y ago
  The timing isn't random. In an economy as debt-addled as ours, any time there is a major economic crisis the banking system is going to be exposed and require a massive bailout. This is obvious to everyone, so it is either by design or the elites are indifferent to the situation.

20 points by cinquemb 7y ago

Is this source trustworthy? Edit: to clarify, CBC says that the Canadian government is warning about a lot of Russian “disinformation” going around, so it’s nice when news sources are familiar or vetted

user5994461 7y ago
If it's true, we will certainly hear about it in a more reputable newspapers soon enough. I personally wouldn't consider that site trustworthy.
gkuhl21 7y ago
I have been following wallstreetonparade.com for months. Although the major media and the federal government does not talk about it, I believe wallstreetonparade.com. There are great theoretical considerations of disaster capitalism, such as "The Shock Doctrine" by Naomi Klein, which hopefully everybody has read by now. I recently read another good one, which I found at City Lights Bookstore in SF: "The Making of the Indebted Man", by Maurizio Lazzarato. This book is insightful, and a treasure. Coronavirus is certainly a problem, no question. However, there was already a problem occuring. Edit: See for yourself. Go to the NY Fed website and look at the numbers. They takeoff in September. https://apps.newyorkfed.org/markets/autorates/tomo-results-display?startDate=8/1/2019&endDate=3/22/2020&PageNumber=14&PageSize=25 https://apps.newyorkfed.org/markets/autorates/tomo-results-d...

echelon 7y ago

Just what we need, potentially another banking collapse. The timing couldn't be worse. Are there any good forecasts of this looming recession? Will this be worse than the Great Depression? How long will it take things to snap back?

nodesocket 7y ago
My thought is that the banks won't be failing here. They are in much better shape than '08, have tighter policies, and perform stress tests.
- nathanaldensr 7y ago
  That's a common refrain but just how true is it considering the shadow banking system? People said similar dismissive things in 2008, too.
vearwhershuh 7y ago
The timing isn't random. In an economy as debt-addled as ours, any time there is a major economic crisis the banking system is going to be exposed and require a massive bailout. This is obvious to everyone, so it is either by design or the elites are indifferent to the situation.