Cooking the Books PART II: US $71 Trillion Casino Banks

Michael Edward's blog Posts
Gnosty
Forum Administrator
Forum Administrator
Posts: 551
Joined: 25 Nov 2003, 20:20
Location: Ecuador
Contact:

Cooking the Books PART II: US $71 Trillion Casino Banks

Postby Gnosty » 26 Mar 2004, 11:26

Cooking the Books PART II: US $71 Trillion Casino Banks

by Michael Edward


This article is an update to Cooking the Books: US Banks are Giant Casinos posted at http://worldvisionportal.org/WVPforum/v ... .php?t=160

Derivative holdings by U.S. banks increased nearly $4 TRILLION in just 3 months to now total over $71.1 TRILLION. JPMORGAN CHASE accounts for $3.1 TRILLION of this increase.

That's $ 71,100,000,000,000.

The first 7 banks listed below account for 96% of all commercial bank derivative holdings, with 90% of these derivatives in extremely risky OTC (Over the Counter) contracts.

As I said in Cooking the Books Part I, U.S. banks are giant gambling casinos, and now they have become even larger gambling addicts at the expense of all Americans.


DERIVATIVES CONTRACTS AS OF DECEMBER 31, 2003
(based on just released 03Q4 OCC Bank Derivatives report)

1. JPMORGAN CHASE BANK - $36,805,757,000,000 (Assets $628,662,000,000)
Risk Ratio 58.5:1 ($58.54 of derivatives per $1 of assets).
Credit exposure to Risk-Based Capital Ratio 844.6%
OTC Derivatives 92.6%

2. BANK OF AMERICA - $14,869,220,000,000 (Assets $617,962,000,000)
Risk Ratio 24:1 ($24.06 of derivatives per $1 of assets).
Credit exposure to Risk-Based Capital Ratio 221.7%
OTC Derivatives 83.4%

3. CITIBANK - $11,167,882,000,000 (Assets $582,123,000,000)
Risk Ratio 19:1 ($19.18 of derivatives per $1 of assets).
Credit exposure to Risk-Based Capital Ratio 267.1%
OTC Derivatives 96.4%

4. WACHOVIA BANK - $2,326,465,000,000 (Assets $353,541,000,000)
Risk Ratio 6.6:1 ($6.58 of derivatives per $1 of assets).
Credit exposure to Risk-Based Capital Ratio 80.6%
OTC Derivatives 70.2%

5. HSBC BANK USA - $1,353,741,000,000 (Assets $92,958,000,000)
Risk Ratio 14.5:1 ($14.45 of derivatives per $1 of assets).
Credit exposure to Risk-Based Capital Ratio 288.5%
OTC Derivatives 88.7%

6. BANK ONE - $1,232,095,000,000 (Assets $256,787,000,000)
Risk Ratio 4.8:1 ($4.79 of derivatives per $1 of assets).
Credit exposure to Risk-Based Capital Ratio 58.7%
OTC Derivatives 96.1%

7. BANK OF NEW YORK - $561,694,000,000 (Assets $89,258,000,000)
Risk Ratio 6.3:1 ($6.29 of derivatives per $1 of assets).
Credit exposure to Risk-Based Capital Ratio 77.7%
OTC Derivatives 78.1%

8. WELLS FARGO BANK - $557,161,000,000 (Assets $250,474,000,000)
Risk Ratio 2.2:1 ($2.22 of derivatives per $1 of assets).
Credit exposure to Risk-Based Capital Ratio 26.7%
OTC Derivatives 66.3%

9. FLEET NATIONAL BANK - $443,708,000,000 (Assets $192,265,000,000)
Risk Ratio 2.3:1 ($2.30 of derivatives per $1 of assets).
Credit exposure to Risk-Based Capital Ratio 20.2%
OTC Derivatives 64.1%

10. STATE STREET BANK - $369,843,000,000 (Assets $80,435,000,000)
Risk Ratio 4.6:1 ($4.59 of derivatives per $1 of assets).
Credit exposure to Risk-Based Capital Ratio 161.0%
OTC Derivatives 89.2%

JPMORGAN CHASE is far past the point of no return. To put it in simple terms, JPMORGAN CHASE, BANK OF AMERICA, CITIBANK, and HSBC are already insolvent many times over. They have no liquidity, yet they are still operating as if they do.

This has now gone way beyond the imminent bursting of the US financial debt bubble... it has become an explosive financial weapon of mass destruction.

To understand the gambling risk U.S. banks have created, please read the following articles:

THE 3-D BOMB: DERIVATIVE DOMINO DESTRUCTION
http://worldvisionportal.org/WVPforum/v ... .php?t=177

U.S. BANKS HAVE BECOME A PONZI SCHEME
Most Bank Derivatives Have UNLIMITED Risk
DERIVATIVES ARE THE KISS OF DEATH

(scroll down to view these articles)
http://worldvisionportal.org/WVPforum/v ... .php?t=160

U.S. Bank Fraud Created Europe's Largest Bankruptcy
http://worldvisionportal.org/WVPforum/v ... .php?t=176

$25 BILLION of Fannie Mae Derivative Losses
http://worldvisionportal.org/WVPforum/v ... .php?t=192

Non-commercial reproduction allowed, otherwise copyright 2004 by WorldVisionPortal.Org

Gnosty
Forum Administrator
Forum Administrator
Posts: 551
Joined: 25 Nov 2003, 20:20
Location: Ecuador
Contact:

Postby Gnosty » 09 Jan 2007, 13:25



Return to “Seeing With A Golden Eye”

Who is online

Users browsing this forum: No registered users and 2 guests

cron