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Monday
Sep262011
Wake-Up Call - 09/26/11
September 26, 2011 Download this episode (right click and save)
Derivatives: The Monster In Our Midst
A short history of the background to the crisis. The gradual financialization of the economy from the early 1980s. The point-of-no-return has long since been passed. Economic and financial Armageddon are assured. The danger of commercial money-market funds. The horrific risk to the four top banks in the U.S. along with their $250 trillion gross notional derivative exposure. These terrible contracts will be the downfall of the system. The decline in manufacturing: contributing factors.
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