22.10.2011 - 14:56 [ The Buzzflash Blog ]

Bank Of America Makes Taxpayers Insure $75 Trillion Dollars in Risky Derivative Schemes

Consistent with the Wall Street standard operating procedure of privatized profits and socialized risks, the Bank of America has allegedly transferred $75 trillion dollars in potentially toxic derivatives to enable the money to be covered by the Federal Deposit Insurance Corporation (FDIC).