Forum Post: Bank Of America Forces Depositors To Backstop Its $53 Trillion Derivative Book To Prevent A Few Clients From Departing The Bank
Posted 12 years ago on Oct. 18, 2011, 6:51 p.m. EST by MonetizingDiscontent
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Bank Of America Forces Depositors To Backstop Its $53 Trillion Derivative Book To Prevent A Few Clients From Departing The Bank http://www.zerohedge.com/news/bank-america-forces-depositors-backstop-its-53-trillion-derivative-book-prevent-few-clients-dep
(ZeroHedge) "...And of course, in order to thank depositors for being explicit guarantors of the bank's derivative business, it is now forcing them to pay a $5/month fee."
The entire Gross Domestic Product of the United States is only about $65 Trillion/yr. How are we supposed to pay for this crap?
I heard 600 trillion could be as high as 1,500 trillion between the top 4 banks in derivatives.That we could be held holding the bag for.