JPMorgan Chase and Citibank Have $2.96T Exposure to Credit Default Swaps | Hacker News Reader

JPMorgan Chase and Citibank Have $2.96T Exposure to Credit Default Swaps

wallstreetonparade.com

20 pointscinquemb7 comments

Just what we need, potentially another banking collapse. The timing couldn't be worse.

Are there any good forecasts of this looming recession? Will this be worse than the Great Depression? How long will it take things to snap back?

My thought is that the banks won't be failing here. They are in much better shape than '08, have tighter policies, and perform stress tests.

That's a common refrain but just how true is it considering the shadow banking system? People said similar dismissive things in 2008, too.

The timing isn't random. In an economy as debt-addled as ours, any time there is a major economic crisis the banking system is going to be exposed and require a massive bailout.

This is obvious to everyone, so it is either by design or the elites are indifferent to the situation.

Is this source trustworthy? Edit: to clarify, CBC says that the Canadian government is warning about a lot of Russian “disinformation” going around, so it’s nice when news sources are familiar or vetted

If it's true, we will certainly hear about it in a more reputable newspapers soon enough. I personally wouldn't consider that site trustworthy.

I have been following wallstreetonparade.com for months. Although the major media and the federal government does not talk about it, I believe wallstreetonparade.com.

There are great theoretical considerations of disaster capitalism, such as "The Shock Doctrine" by Naomi Klein, which hopefully everybody has read by now.

I recently read another good one, which I found at City Lights Bookstore in SF: "The Making of the Indebted Man", by Maurizio Lazzarato. This book is insightful, and a treasure.

Coronavirus is certainly a problem, no question. However, there was already a problem occuring.

Edit: See for yourself. Go to the NY Fed website and look at the numbers. They takeoff in September. https://apps.newyorkfed.org/markets/autorates/tomo-results-d...

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