2016-09-30wallstreetonparade.com

Why Goldman Sachs, Morgan Stanley and Citigroup shed more equity value than Wall Street banks with much larger balance sheets like JPMorgan Chase and Bank of America was foretold on February 12, 2015 when the research agency created under the Dodd-Frank financial reform legislation issued a report [indicating] that Morgan Stanley, Goldman Sachs and Citigroup had the highest OTC derivatives values as a percent of their total exposures.

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In other words, the contagion Deutsche Bank is spreading is all about the opaque derivatives that the Federal Reserve and Congress have failed to meaningfully reform. President Obama has also failed the American people in this regard -- even going so far as to misinform the public on the derivatives issue in a press conference on March 7 of this year.



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