Big Banks “Bought” Congress … So Credit Derivatives Are Bigger than Ever

Posted on August 21, 2014 by WashingtonsBlog

The Causes of the 2008 Crisis Have Never Been Addressed

We’ve noted for years that Washington never reined in the risky derivatives which helped cause the 2008 crash … and so the big banks hold more derivatives than ever.
We’ve also noted that the financial services industry has bought and sold Congress.
Indeed, Washington never fixed the causes of the 2008 financial crisis.
Yesterday, Janet Tavakoli gave a good overview of the problem to CBC:
http://www.washingtonsblog.com/2014/08/big-banks-bought-congress-credit-derivatives-bigger-ever.html