“Ensuring a Safe and Sound Federal Banking System for All Americans.” … just not for we, the people; in peace
Source: Wall Street On Parade, by Pam Martens and Russ Martens
Having closely observed how Citigroup collapsed under the weight of its own corruption and risk-taking hubris in 2008 and spread its contagion across Wall Street, a headline we never dreamed we would see in our lifetime is shown above from Risk Magazine’s web site. The article under the heart-stopping headline is dated January 27, 2016 and informs readers that Citigroup is now viewed by clients as one of the top-three market makers in single name Credit Default Swaps in both North America and Europe.
Credit Default Swaps are the instruments that blew up the giant insurance company, AIG, in 2008, requiring the U.S. government to bail out the company to the tune of $185 billion. The bailout money went in the front door of AIG and was then funneled out the backdoor to the big…
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