By most people’s standards, Europe, with the possible exception of Germany, is in bad shape. Yet this article points out that Wall Street banks have bought $2 trillion worth of derivatives to insure European banks in case they go under. Aren’t you glad that Wall Street is betting your money on Europe? And if European banks go under, will the Wall Street banks take the hit? You better believe they will try to make taxpayers pay for the their losses.
Image by Bloomberg
