Frank was part knowledgeable about Jessie i Zinger a wonderful piece in Scroll the Earth what Inside America backs. We See some devastating effects. First of all, America gets it, they don’t really trust banks. The survey said only 21 percent that they have a faith index now of course a second. She is among the strong people in New York in Washington for politicians in the media Salomon Bank. Even had some issues, but you knew hard rock and we did pressure. Today, we discuss about the What Huge Risks Are Big Banks Hiding?Lets start:
What Huge Risks Are Big Banks Hiding
Now, what is interesting the American people are find, before but not for the investors. Now these are men on Wall Street, and they do not want to invest in banks because they call banks big black boxes. I mean we have no idea what’s inside. The 79 percent of investors have no confidence or In the financial system. The Amazing 7, nine percent of investors do not believe in their backs. It is not just It is not only investors that the American people punish the people who work for banks.
Let me give you a list here 4 Purcell Axial Morris, dean of the Waiter family or if you say. Maurice is one of the leaders in the winning project Sally X c_f_o_ of Citigroup David Kamensky’s pivotal Merrill Lynch, former Citigroup CEO Jeremy Sandy Will Former legendary AXIA from Minnesota City Group. it’s the right way but you know very well, one of the country’s top moorings for a long time. They called for the disintegration of major banks to tighten supervision And the ‘return to the steagle glass laws caused that they were all inside. The banks were on the banks and they know download them to blast. If you were do not control it, if you do not break them. We have shown the destruction of this economy. It’s just how badly young people wear it.
Financial accounting standards Board member of any private group. You are supposed to do a county boycott. After spending on a plate, Don says young Quote after serving on the plate. You no longer trust the county bank purchase. Now this is the incharge guy Im a bank of accounting If you look at that. You are crazy if you are trusted but not alone and that other board member. The same as table tennis financially And trot When asked if you trust the bank said the accounting quote. APS even Loot me not Gee I was wondering if they are a group to blast Buzzing from this book had not been seen by Wells Fargo. Wells Fargo is now supposed to be the most conservative back. There Warren Buffett is a great property in existence And she usually preached as a boy these guys to Congress. Other crazy bankers Brief Orwell until they appear forms of disclosure But they didn’t know that they were incredible on the purpose number 2. When Steve’s schools got to use them at all different levels.
Transactions they make terrifying rumors got scary. Thus the court is one part of the disclosure. It was like ours or clients’ residence. Now wait a minute, this is the center is a great profit for them. How can a customer praise like this center is that big profit. I helped a man with his counterpart Check the account and we made that money for no. This is what is called the market situation. They accommodate customers by doing a tremendous amount of training for derivatives on their own. They can help define the market In fact they interpret their country is going to quote Forbes Residence commercial clients. It also includes net market related gains, possibly activities. We take positions to facilitate Expect Customer order flow. Why is it so important that I might seem complicated, if I don’t know Reveal this Because they know who made you know the market paid Gaia act or an enormous investor.
The new deal that falls beat the investor is enormous and we are simply making. We would have her if that was all they did that would be understandable. They say we do that to facilitate X spam Customer order in other words 14 Customers did not ask for that trade. They do that trade on their own And so if it blows and blows on it. But they have to find an excuse that they can just go out there and say what well. We do Hundreds of billions of dollars in you are about to see some. Try some pieces and always with borrowing bargains. To the bank by not using the money also customers. They have to say no customers are expected to order. It’s a joke Whoever found the book indicated that there are three different levels of risk. One level for this level was a really scary concept and the third level was instead. Let me sweat Banks third-level estimates.
It is created primarily, it is a technology-based model that has important assumptions. Not be noticed on the market. Let me decide Well without Wood ford. So I said we got all these things up and one level and we continued to have some sense. How much they’re level worth until we don’t have as good as we sense Kind of guessing. In this one All the money we have heard in these transactions. Although we know everyone and point quite financially from the voice. We have no idea what they do, we use it every year on content Cannot be seen from the market. No I do not know what it means. Nobody has any idea what they deserve. Now if u make a bet with a friend of yours And if you lose your bet you don’t know. How much you’re gonna lose. That would be a matter of doing a ten-dollar review you can lose a thousand in a row. This means that every loss of box is really hurt. But she does not know the size of this bat. They’re not trillions of bed square however here. We are Now in the past And companies like Ron. Why not this Things are difficult to hold That too Levels were one through three or at least in the books but it is New-some off transaction books. That became a little word for it antique special purpose. The game is in his right name. It’s a special entity promise. Special purpose is to cheek the app state. she wanted all of my box Companies in all my books. I immediately realized you I commit mass fraud. So far they have not done this credibility. They change worse doing the exact same thing but call it now. The entity variable of interest.
So it is from the books that it is not grades up to the level of some of the rest of the third level And what’s the point. It’s a variable utility entity but we are thinking. These guys have a lot of this mistake. For example Wells Fargo lost you know More than a hundred forty billion dollars in cash from the start that looks like Much right. It is not much good when only you discover a variable utility entities. We have docking One point four and six trillion dollars. This is the stuff that’s written. One point sixty four trillion dollars If you don’t know exactly what you are all in, exactly, what you are alone. When I was making awful bets one point four and six trillion dollars. If a bit goes wrong when your bank has missed When Wells Fargo goes down. Then all banks that are associated with the inclusion of Wells Fargo. They also go down and here’s a really scary thing that’s not an article. I know of other materials that I have Every company now due 30 days more.
Now why is that important mysterious fact here. It is short term financing. If the banks go under. It is immediately run by all of the money company. He can not pay the vendors with them, they can not pay their campaign employees anything because there is no one to give them money thirty days. These guys will pull down the entire global economy with them. I didn’t even get to the worst part Now Wells Fargo actually no Twice as much Trading derivatives. As is the case Entities utility variable. For reference, it’s a trillion dollars, that’s right Company tool. Members will be bombed last summer and two thousand. If you thought this was a little remember, I told you Wells Fargo is actually. The most conservative return, I think this is the crap you find most conservatives.
Bank that is often praised j_p_ morgan gosh these guys are gotta. This recently from $ 6 billion detonated on derivative trading all my jimmy guide seeks a point once. You get we had any errors in. Above all well that God is perhaps worse. You know how much. In the trading of nominal derivatives j_p_ Morgan s 17 also Trillion dollars Five times the size of US accounting. Now they will say and listen that is a default value This does not mean that every appointment of me is really in dollars and at risk Get to know us that someone has come and said that some of the other party is yours. You can’t lose all of them. Not even an entire trillion is at risk 70. Always a percentage of it. Everything is very comfortable, Scott probably only seven trillion dollars. This risk what difference does it mate Well i tell you what is an excellent aspect of the US economy Little mistake Konstan. Not billions of dollars and perhaps a hundred billion dollars pick them up. It’s like the Anna treatment thing, I do not know anyway Q talks where there is none. Hard is proof that we have verbal anyone And reading this and that book from this article came to the same result. We are not over the world. We do not and did not spread great. I do not think, these guys are still really quite out of control Bursting.
That banks are centered Is inevitable, I mean the idea that we can fix this at a time is a joke but rather to strive for Fix it. This is because they make one of these guys wrong with one of these banks. Which then leads to in succession Paris series. This cannot be paid absolute. Write it down in stone. These banks are going on Collapse. They’re gonna collapse US economy with it And almost the whole world matter.