Witzy

Financial Times Debunks Citi's Memo

Swami,

Good info to consider. However, the existence of derivatives on their books SHOULD have been evidence that the banks were doing their jobs and covering their risk exposure. If they had just done that, they and so many of the insurance companies would not be fading into oblivion right now. The number perhaps more telling in that report wsa the amount of their credit derivative contracts ($16.1 Trillion)

Swami wrote:>
> Citi and 4 other U S banks have 175 trillion in derivitives on the
> books......never hear it mentioned do you? Don't you wonder why?
>
>
> go here and verify for yourself
> OCC's Quarterly Report
> www.occ.treas.gov/ftp/...