interest rate swaps
Pennsylvania's local governments suffered huge losses because of risky swap deals, but Toomey pushed to let banks keep giving them bad advice.
In Cyprus, the depositors were "bailed in" (stripped of a major portion of their deposits) to re-capitalize the banks. In Detroit, it is the municipal workers who are being bailed in, stripped of a major portion of their pensions to save the banks.
This is not rocket science. By developing a public banking system, governments can keep the interest and reinvest it locally.
Banks and borrowers were supposed to be paying equal rates: the fat years would balance out the lean. But the Fed artificially manipulated the rates to the save the banks.
PIMCO started betting against U.S. government-related debt in April, with a short position equivalent to 3 percent of the
The termination payments come on top of fees that banks have already collected for selling the deals. Government officials
There are thousands of city and local government that spend hundreds of billions of dollars each year that are processed through banks. With a well-organized social movement, we could change the ways banks do business on Main Street.
Credit specialists at Citi are considering launching the first derivatives intended to pay out in the event of a financial
Harvard's swaps, which assumed that interest rates would rise, proved so toxic that the 373-year-old institution agreed to