The Reasons for "America's Current Financial Crisis"
Posted: Thu Jan 27, 2011 9:53 pmThese are 8 total videos and this takes one hour but well worth it!
The Reasons for "America's Current Financial Crisis" is laid down by retired CPA Edward Binns in an 8 part , 1 hour, video of his FREE lecture. The lecture is a result of a "desk audit" of the national financial crisis, the October "bailout" and suspension of accounting rules, and statements by public officials and responsible media from a professional, insider view.
http://www.youtube.com/watch?v=I0pUIZgJ ... playnext=1
This article: http://www.slate.com/id/2202263/ helps explains the concept of notional value of derivatives.
So... now look at the third quarter of 2010 i.e. the latest data:
http://www.occ.gov/topics/capital-marke ... /dq310.pdf
Executive Summary
The notional value of derivatives held by U.S. commercial banks increased $11.3 trillion in the third quarter, or 5%, to $234.7 trillion.
U.S. commercial banks reported trading revenues of $4.2 billion in the third quarter, 27% lower than $5.7 billion in the third quarter of 2009.
Credit exposure from derivatives increased in the third quarter. Net current credit exposure increased 11%, or $43 billion, to $440 billion.
Derivative contracts remain concentrated in interest rate products, which comprise 84% of total derivative notional values. The notional value of credit derivative contracts, at $14.5 trillion, represents 6.2% of total notionals. Credit derivatives increased by 4.3% during the quarter.
Derivatives contracts are concentrated in a small number of institutions, the OCC said,
noting that the top five banks — JPMorgan Chase, Citibank, Bank of America, Goldman Sachs and HSBC Bank — account for 96 percent of the total notional amount of derivatives.
The largest 25 banks hold nearly 100 percent, the agency added.
The Reasons for "America's Current Financial Crisis" is laid down by retired CPA Edward Binns in an 8 part , 1 hour, video of his FREE lecture. The lecture is a result of a "desk audit" of the national financial crisis, the October "bailout" and suspension of accounting rules, and statements by public officials and responsible media from a professional, insider view.
http://www.youtube.com/watch?v=I0pUIZgJ ... playnext=1
This article: http://www.slate.com/id/2202263/ helps explains the concept of notional value of derivatives.
So... now look at the third quarter of 2010 i.e. the latest data:
http://www.occ.gov/topics/capital-marke ... /dq310.pdf
Executive Summary
The notional value of derivatives held by U.S. commercial banks increased $11.3 trillion in the third quarter, or 5%, to $234.7 trillion.
U.S. commercial banks reported trading revenues of $4.2 billion in the third quarter, 27% lower than $5.7 billion in the third quarter of 2009.
Credit exposure from derivatives increased in the third quarter. Net current credit exposure increased 11%, or $43 billion, to $440 billion.
Derivative contracts remain concentrated in interest rate products, which comprise 84% of total derivative notional values. The notional value of credit derivative contracts, at $14.5 trillion, represents 6.2% of total notionals. Credit derivatives increased by 4.3% during the quarter.
Derivatives contracts are concentrated in a small number of institutions, the OCC said,
noting that the top five banks — JPMorgan Chase, Citibank, Bank of America, Goldman Sachs and HSBC Bank — account for 96 percent of the total notional amount of derivatives.
The largest 25 banks hold nearly 100 percent, the agency added.