Wall Street Bank Regulator Issues Outrageous Press Release

By Pam Martens: December 22, 2014

Last week members of both the House and Senate were issuing press releases to express their outrage over the sneaky repeal of a Dodd-Frank financial reform provision meant to stop giant Wall Street banks from using FDIC-insured bank affiliates to make wild gambles in derivatives, thus putting the U.S. economy in grave danger again and the taxpayer at risk for another behemoth bailout.

What was the Federal regulator of these very same banks doing? It was bragging in a press release issued at the end of the same week about the gargantuan risks these insured banks were taking in derivatives.