Sunday, Jul 19, 2009
“Banks make so much money with these things that they don’t want transparency because the spreads ar
Bloomberg: Mobius Says Derivatives, Stimulus to Spark New Crisis
Derivatives contributed to almost $1.5 trillion in writedowns and losses at the world’s biggest banks, brokers and insurers since the start of 2007, according to data compiled by Bloomberg. Global share markets lost almost half their value last year, shedding $28.7 trillion as investors became risk averse amid a global recession.
Posted by chris @ 09:44 PM (232 views) Add Comment
1 Comment
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1. mander said...
Evil is good as long as it makes money. So the banks are running the countries not the politicians. Will the debt of this century be the slavery of last century? Will debt be made mandatory too just because some people still need to get rich although we kind of have built everything people would need?