patrick.net

The notational value of big bank derivatives is near $225 trillion -- really, trillion. That's up from $120 trillion in 2006.

>>>Derivatives are simply bets. They finance no factories, no research, no colleges, no homes and no cars. Any jobs they produce are incidental and inconsequential relative to the potential risk they represent, the risk that credit exposure has been incorrectly figured by hundreds of billions of dollars if not more. Since big banks hold virtually all derivatives, and since taxpayers can face massive costs if big banks fail, it follows that something should be done to limit taxpayer risk.

>>>How can we control derivative worries? If they’re so necessary and safe, let bankers and traders take the risk. Personally.

http://www.ourbroker.com/news/big_bank_derivatives_double_100412/