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HomeDANGER: Unknown Size, Location of Financial WMD
Posted by Larry Doyle on February 20th, 2014 6:31 AM |
If there are hackers in far off countries who can figure out how to penetrate the computer systems of our nation’s banks and retailers, how is it that a full 5 years after the greatest crisis since the Depression that our financial regulators are not able to properly monitor the financial weapons of mass destruction, aka derivatives contracts, running throughout our system?
I will tell you how. Because the ‘too big to fail’ banks have zero interest in making that happen. If anybody needed any further reason to break up our ‘too big to fail’ banking oligopoly, Bloomberg provides it in this recent editorial:
The recent turmoil in emerging markets raises an urgent question: If things get worse, if markets plunge or a government defaults, do regulators know which banks, hedge funds or other institutions are most at risk? (more…)
