Are Americans finally figuring it out as they’re paying down their credit cards by record amounts? So far, $25 billion a year in lost interest income for the banks!
Banks, as prime brokers and counterparties to the hedge fund, are eating multi-billion-dollar losses as they try to get out of these secretive stock derivative positions.
Who’s going to be the sucker? Even the SEC, which has been asleep through all this, warns retail investors. But in the current mega-bubble craze, no one gives a hoot about anything anymore.
