No. of Recommendations: 0
FYI - If you own an Investment Bank or Bank, I would avoid these
Warren Buffett predicted of financial derivatives: they are proving to be “weapons of mass financial destruction".
Taken from Mike "Mish" Shedlock at: http://globaleconomicanalysis.blogspot.com
Look at the level of derevatives in these banks.
JPM $91 TRILLION in derevatives
C $34 TRILLION in in derevatives
BAC $31 TRILLION in derevatives
W $5 TRILLION in derevatives
To big to fail? We will see... to big to rescue makes more sense to me.