Nomi Prins: Ticking Bankster Time Bomb

[marmar]

Run time: 11:26 https://www.youtube.com/watch?v=wW98KhDWojU   Posted on YouTube: November 03, 2011 By YouTube Member: ricthuse Views on YouTube: 51   Posted on DU: November 06, 2011 By DU Member: marmar Views on DU: 573

 

So how does what's going on across the pond in Europe, with Greece and the Eurozone affect Americans? Well, US banks are a great place to start. They've reportedly sold a lot of insurance against credit losses to holders of risky Eurozone debt -- the number went up from $80 billion to $518 billion in the first half of the year according to the Bank of International Settlements. And Bank of America has taxpayers behind more than %53 trillion in derivatives via the FDIC as their positions keep rising. We talk with Nomi Prins -- senior fellow at the think tank Demos, author of Black Tuesday, and former managing director of Goldman Sachs -- about how we got here, and where we're headed.