Brexit could trigger a $500 trillion derivatives meltdown by forcing the European Union to allow insolvent member governments and banks to write down debt. But there's an alternative.
While the mainstream media focus on Islamic State extremists, a threat that has gone virtually unreported is that your life savings could be wiped out in a massive derivatives collapse. Bank bail-ins have begun in Europe, and the infrastructure is in place in the United States.
American austerity is finally having one of its deep, pernicious effects in the service of runaway capitalists -- preventing government regulators from regulating due to inadequate funds.
The first of a planned three-part series on the dangers of private banking highlights government documents describing plans to confiscate the deposits of individuals as well as cities, universities, counties and pension funds when another banking crash occurs.
U.S. authorities may arrest two former JPMorgan Chase employees in connection with their alleged role in hiding $6.2 billion in losses in what became known as the "London Whale" scandal, two people familiar with the situation say.
In a quarterly regulatory filing Wednesday, the nation's biggest bank revealed that it faces a criminal and civil investigation into "whether it sold shoddy mortgage securities to investors in the run-up to the financial crisis" between 2005 and 2007.
With taxpayer bailouts no longer an option, a major derivatives crisis could transfer money currently held by state and local governments and citizens -- secured and unsecured, insured and uninsured -- into the hands of derivative claimants.
The owner of the “icon of American capitalism” is being sold to an Atlanta-based derivatives company for $8.2 billion as Wall Street’s trademark practice of high-energy verbal trading gives way to the digital kind.
University of Missouri-Kansas City professor, author and former financial regulator William Black explains what’s wacky about JPMorgan Chase’s version of events that led to the firm's $2 billion loss in the derivatives market last week.