Recession, Insolvency, Derivative Risks: Why Looming US Crisis Could be Worse Than in 2008
Paul Craig Roberts- The five largest US banks have derivative exposure many times greater than their capital base. No one knows what the risks in these derivatives are.
Troubles engulfing three US banks and one prominent European lender have triggered recession fears as corporate bond buyers have got cold feet, with banks expected to tighten lending terms and the Federal Reserve proceeding with aggressive hikes.
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