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House of Cards Meets Typhoon!

Four US banks hold a staggering 95.9% of U.S. derivatives: The $600 Trillion Time Bomb That’s Set to Explode 

by Keith Fitz-Gerald

Do you want to know the real reason banks aren’t lending and the PIIGS [Portugal, Ireland, Italy, Greece, Spain] have control of the barnyard in Europe?

It’s because risk in the $600 trillion derivatives market isn’t evening out. To the contrary, it’s growing increasingly concentrated among a select few banks, especially here in the United States.

In 2009, five banks held 80% of derivatives in America. Now, just four banks hold a staggering 95.9% of U.S. derivatives, according to a recent report from the Office of the Currency Comptroller.

The four banks in question: JPMorgan Chase & Co. (NYSE: JPM), Citigroup Inc. (NYSE: C), Bank of America Corp. (NYSE: BAC) and Goldman Sachs Group Inc. . . . (more)

http://www.globalresearch.ca/index.php?context=va&aid=27106

Want to have a word with top dogs at  JPMorgan Chase, Citigroup, Bank of America or Goldman Sachs?

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