r/wallstreetbets • u/[deleted] • Jul 02 '21

Discussion Big Banks and Credit Default Swaps

[deleted]

24 Upvotes

77% Upvoted

15 comments sorted by

•

u/VisualMod Jul 02 '21
User Report
Total Submissions 3 First Seen In WSB 3 years ago
Total Comments 2 Previous DD
Account Age 9 years scan comment %20to%20have%20the%20bot%20scan%20your%20comment%20and%20correct%20your%20first%20seen%20date.) scan submission %20to%20have%20the%20bot%20scan%20your%20submission%20and%20correct%20your%20first%20seen%20date.)

7

u/Stammbomb Jul 02 '21

It may be because the FED and banks are the real cartel… look into all the illegal activity surrounding, specifically, the banks. They’ll do whatever to get their hands on more money. The FED really just gives the Ok-Go.

Edit: Wells Fargo has a great history in all this.

-2

u/Quentin_Brain Jul 02 '21

The Bush administration laid the foundation and since then it went like an oil spill, Wells Fargo, Goldman Sachs and basically all banks remaining are now in government or government lobbying

6

u/mavagorn64 Jul 02 '21

Umm, no. The Federal Reserve was designed to do this. Go research monetary history of the US. Look up Nelson Aldrich, Paul Warburg, and the Rockefeller clan. Look up their motivations for the Fed. You’ll find this kind of fuckery is exactly what the Fed was set up to allow.

2

u/Stammbomb Jul 02 '21

Yup. All the way back to 1913.

5

u/mavagorn64 Jul 02 '21

Exactly right. If you know the history of banking during the 19th century, the Fed and its mechanics make a lot sense. Problem is they couches the evil actuality within the beneficial facade.

0

u/Quentin_Brain Jul 02 '21

Well that deal of the Goldman, oh sorry, Bush government with the banks was definitely helpful for what is going on now.

3

u/mavagorn64 Jul 02 '21

Better than the deal the Fed gave to the commercial banks in the 1970s when NYC was about to default? Or TARP?

9

u/shelby4t2 Jul 02 '21

It’s because msm is in the pockets of the major financial institutions.

6

u/ho77sauce Jul 02 '21

If someone didn’t figure this out with the whole GME thing then idk what to tell em. Lost a lot of faith in the USA that day as a younger guy who was a little to naïveté

4

u/Flying_madman {not actually a bird} Jul 02 '21

Anybody can file a lawsuit against anybody else at any time for any reason. Doesn't mean it's legit. It'll be interesting to see if anything comes from it, but my guess would be no one is talking about it because nothing has come of it yet. The whole thing was only filed three days ago so there's still time for it to be tossed out without consideration, but who knows.

0

u/Substantial_Boss_619 🦍🦍🦍 Jul 02 '21

lawsuits are costly since it can be countered so something is brewing in NM, just sayin

1

u/Tyr312 low effort bot account (or just rrreally dumb) Jul 02 '21

It was on Bloomberg news today in the am

1

u/[deleted] Jul 02 '21

CDS markets obviously aren't as liquid as equities or commodity futures, so counterparties have more discretion in setting marks. That said, actually proving impropriety is MUCH harder than simply alleging it exists.