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Fighting for the taxpayer.......well its not CNBC?

|Includes: BAC, Citigroup Inc. (C), GS, JPM, MS

Bank Of America has just transferred about $75trillion , yes thats "TRILLION" with a T of Credit Default Swaps to a FDIC insured account.
This will protect Bank of America if the CDS unwind, and now puts taxpayers on the hook for this massive mess, if they do unwind! $75 Trillion is 5 times the US NAtional DEBT!! Get with it People!!

Other Banks are thinking of doing the same thing as we speak, all under the approval of Helicopter Ben Bernanke.

Wouldn't you think $75Trillion in new taxpayer liabilities would be worth investigating and reporting by CNBC? Should there not be outrage and demands these liabilities be moved out of the Taxpayer coverage?

NOT A WORD FROM THE PREMIER BUSINESS CHANNEL, SHAME on YOU!! Who's side are you on anyway?  Immelt just keeps leading you around by the nose!

Shame on the Politicians and Bernanke for sneaking this under the wire, lets see if we can get a spotlight on this.