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St. Louis Mortgage Refinancing and Customer Financing News – Derivatives: The $600 Trillion Time Bomb That’s Set to Explode

St Louis Home Mortgage, Consumer Financing and Consumer Lending | Principal Reduction Program | 314-334-0210 | St Louis Commercial Financing, Financing For Customers and Principal Loan Reduction

By Keith Fitz-Gerald, Chief Investment Strategist, Money Morning

Do you want to know the real reason banks aren’t lending and the PIIGS have control of the barnyard in Europe?

It’s because risk in the $600 trillion derivatives market isn’t even out. To the contrary, it’s growing increasingly concentrated among a select few banks, especially here in the United States.

In 2009, five banks held 80 percent of derivatives (more…)