Washington's blog via ZeroHedge, 01/04/2010 (en Anglais
)http://www.zerohedge.com/article/%E2%80 ... ulate-them
Au moins, les choses sont claires...Harold Bradley - who oversees almost $2 billion in assets as chief investment officer at the Kauffman Foundation - told the Reuters Global Exchanges and Trading Summit in New York that a cabal is preventing swap derivatives from being forced onto clearing exchanges :
There is no incentive from the moneyed interests in either Washington or New York to change it...
I believe we are in a cabal. There are five or six players only who are engaged and dominant in this marketplace and apparently they own the regulatory apparatus. Everybody is afraid to regulate them.
Quant aux 5 à 6 joueurs, un petit tour dans le document de l'Office of the Comptroller of the Currency nous donne ce beau graphique :
Le marché des dérivés est tenu en gros à 95% par Goldman Sachs, JP Morgan, Citigroup et Bank of America (+ un peu Wells Fargo qui a hérité des Credit Default Swaps de Wamu si j'ai bonne mémoire). Et on y voit aussi que GS a des engagements sur un notionel à hauteur de 400 fois ses fonds propres
Et voici un exemple d'utilisation de ces produits dérivés pour escroquer les municipalités US en leur refourgant de la dette toxique :
Looting Main Street
Rolling Stone, Matt Taïbi, 31/03/2010 (en Anglais
)http://www.rollingstone.com/politics/st ... reet/print
The city of Birmingham was founded in 1871, at the dawn of the Southern industrial boom, for the express purpose of attracting Northern capital — it was even named after a famous British steel town to burnish its entrepreneurial cred. There's a gruesome irony in it now lying sacked and looted by financial vandals from the North. The destruction of Jefferson County reveals the basic battle plan of these modern barbarians, the way that banks like JP Morgan and Goldman Sachs have systematically set out to pillage towns and cities from Pittsburgh to Athens. These guys aren't number-crunching whizzes making smart investments; what they do is find suckers in some municipal-finance department, corner them in complex lose-lose deals and flay them alive. In a complete subversion of free-market principles, they take no risk, score deals based on political influence rather than competition, keep consumers in the dark — and walk away with big money. "It's not high finance," says Taylor, the former bond regulator. "It's low finance." And even if the regulators manage to catch up with them billions of dollars later, the banks just pay a small fine and move on to the next scam. This isn't capitalism. It's nomadic thievery.