Nov

1

How Goldman secretly bet on the U.S. housing crash

November 1, 2009 | Leave a Comment

Now, pension funds, insurance companies, labor unions and foreign financial institutions that bought those dicey mortgage securities are facing large losses, and a five-month McClatchy investigation has found that Goldman’s failure to disclose that it made secret, exotic bets on an imminent housing crash may have violated securities laws. Full Article here.

Oct

20

The $600 Trillion Derivatives Emergency Meeting

October 20, 2008 | Leave a Comment

Here is an update on the size of the derivatives market with the latest official figures (.pdf) from the Bank for International Settlements (BIS). Hold your breath, as we are not anymore talking paltry billions but TRILLIONS of whichever fiat currency.
Current emergency meetings on banks and markets are still only in the stage where politicians [...]