Posts Tagged bailout

Some interesting thinking points about BofA’s trillion dollar derivatives move

Bank of America recently moved around $1 trillion in derivatives, shifting liability from themselves to the American taxpayer, all with the help of Federal Reserve Chairman, Ben Bernanke. Watch this short video below for the lowdown on the transaction. If this goes south I wonder what kind of cost to each Utah household this will have.

Cory Ure
Medallion Mortgage
Salt Lake City, UT

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