Friday, December 12, 2014

Citigroup Wrote the Wall Street Giveaway The House Just Approved

http://www.motherjones.com/politics/2014/12/spending-bill-992-derivatives-citigroup-lobbyists
"The Citi-drafted legislation will benefit five of the largest banks in the country—Citigroup, JPMorgan Chase, Goldman Sachs, Bank of America, and Wells Fargo. These financial institutions control more than 90 percent of the $700 trillion derivatives market. If this measure becomes law, these banks will be able to use FDIC-insured money to bet on nearly anything they want. And if there's another economic downturn, they can count on a taxpayer bailout of their derivatives trading business."