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Too Big To Fail? 5 Biggest Banks Are 'Dead Men Walking'


Business  (tags: $145 Billion In Bailout Dollars, Banks Are Dead Men Walking, Dead Men Walking, Largest Banks Too Big To Fail, Too Big To Fail, Business News )

Blue
- 3759 days ago - mcclatchydc.com
Citibank, Bank of America, HSBC Bank USA, Wells Fargo Bank and J.P. Morgan Chase reported that their "current" net loss risks from derivatives -- insurance-like bets tied to a loan or other underlying asset -- surged to $587 billion as of Dec. 31.



   

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Blue Bunting (855)
Tuesday March 10, 2009, 2:46 am
WASHINGTON -- America's five largest banks, which already have received $145 billion in taxpayer bailout dollars, still face potentially catastrophic losses from exotic investments if economic conditions substantially worsen, their latest financial reports show.

Citibank, Bank of America, HSBC Bank USA, Wells Fargo Bank and J.P. Morgan Chase reported that their "current" net loss risks from derivatives -- insurance-like bets tied to a loan or other underlying asset -- surged to $587 billion as of Dec. 31. Buried in end-of-the-year regulatory reports that McClatchy has reviewed, the figures reflect a jump of 49 percent in just 90 days.

Read the whole story: McClatchy Washington Bureau...click on link above
 

Blue Bunting (855)
Tuesday March 10, 2009, 2:49 am
Citi Said To Pay $13 Million To Brokers After Canceling Bahamas Trip, Other Perks
 
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