Andrew Hughes

Derivatives and Bank Collapse - The Scam That Went Largely Unreported

Excellent point. With regard to an International Clearing House, that's exactly what needs to be done. It is the most logical way to defuse the derivatives bomb. The question that arises though is why was this not done previously as a top priority to ensure that any Tarp funds injected in to the banks would actually have a positive effect.
No sane investor is going to pump capital in to a bank without inspecting it's balance sheet and credit exposure.
With the OCC data out in the open, any further capital injection or purchase of "bad assets" without bringing the data and the balance sheets to the table and dealing with the neutralization of the derivative instruments only amounts to either incompetence on a monumental scale or, more likely, a deliberate fleecing of the taxpayer.