Articles by Keith Fitz-Gerald, Chief Investment Strategist
We found 1 results.
Derivatives: The $600 Trillion Time Bomb That’s Set to Explode
Keith Fitz-Gerald, Chief Investment Strategist - Money Morning,
24 Oct 2011
The world’s gross domestic product (GDP) is only about $65 trillion, or roughly 10.83% of the worldwide value of the global derivatives market. In 2009, five banks held 80% of derivatives in America. Now, just four banks hold a staggering 95.9% of U.S. derivatives, according to a recent report from the Office of the Currency Comptroller. The four banks in question: JPMorgan Chase & Co. (NYSE: JPM), Citigroup Inc. (NYSE: C), Bank of America Corp. (NYSE: BAC) and Goldman Sachs Group Inc. (NYSE: GS).
→ read full article