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Pam Martens and Russ Martens – 57 Percent of Our Banks Have Disappeared: You Can Thank Bill Clinton

Thanks to the Presidential debates, most Americans have heard of the Glass-Steagall Act which kept the country’s banking system safe for 66 years until it was repealed by President Bill Clinton in 1999, allowing the risky activities of Wall Street trading firms to merge with insured-deposit banks, setting the stage for the Wall Street collapse in 2008. But few Americans …

global

Stephen Lendman – Global Derivatives: $1.5 Quadrillion Time Bomb

When investing becomes gambling, bad endings follow. The next credit crunch could make 2008-09 look mild by comparison. Bank of International Settlements(BIS) data show around $700 trillion in global derivatives.  Along with credit default swaps and other exotic instruments, the total notional derivatives value is about $1.5 quadrillion – about 20% more than in 2008, beyond what anyone can conceive, …