BillHolter.com

Bill’s Commentary:

The latest from Erik –

“What once was fiction is now reality!”

Bill’s Commentary:

“You will find out this is all true regarding “off balance sheet” assets when the smoke finally clears from total collapse. It was true in 1929, true in 2008 and multiples worse now. You do understand that these derivatives all need collateral to exist, right? “Whose” collateral do you think it is? Do you now understand the “you will own nothing” part?”

Wall Street’s Megabanks Have Trillions of Dollars Off-Balance Sheet, in a Replay of Accounting Hubris that Led to the 2008 Wall Street Collapse

When the Financial Crisis Inquiry Commission released their final forensic report on the causes of the 2008 financial collapse on Wall Street – the worst collapse since the 1929-1932 collapse – it pointed to hidden leverage in off-balance sheet entities at the megabanks on Wall Street as a key driver of the crisis.

Read more here…