MegaSack DRAW - This year's winner is user - rgwb
We will be in touch
Wow, just wow.
The top four banks in the US have a derivatives exposure of 3 times global GDP:
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Goldman Sachs:
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Bank of America:
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Citi:
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JP Morgan Chase:
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Full inforgraphic [url= http://demonocracy.info/infographics/usa/derivatives/bank_exposure.html ]here[/url].
pfft thats nothing.
If it makes you feel any better, there is NO definitive record of derivative mark to market exposure.
great. huh?! 😉
(for fun, read "The Big Short" for an interesting story behind a certain class of derivatives and how unintended consequences of their creation affected us all, also "The Money Machine" if you want to get a primer in how they work)