Bank of America’s GENIUS Strategy: Offload $55 Trillion dollar risk from Merrill Lynch to Taxpayers!
Oli Garch lauds the Fed’s backing of Bank of America’s strategy to shift $55 trillion dollars in derivatives from their Merrill Lynch subsidiary to the retail bank which houses trillions in deposits from ordinary Americans– and is insured by the FDIC. It puts the taxpayer on the hook for the losses– smart financial planning!
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