Nomi Prins: "Governments Throwing Money at Banks to Gloss Over Ticking Time Bomb" Nov 2, 2011

Nomi Prins: "Governments Throwing Money at Banks to Gloss Over Ticking Time Bomb"

So how does what's going on across the pond in Europe, with Greece and the Eurozone affect Americans? Well, US banks are a great place to start. They've reportedly sold a lot of insurance against credit losses to holders of risky Eurozone debt -- the number went up from $80 billion to $518 billion in the first half of the year according to the Bank of International Settlements. And Bank of America has taxpayers behind more than $53 trillion in derivatives via the FDIC as their positions keep rising. We talk with Nomi Prins -- senior fellow at the think tank Demos, author of Black Tuesday, and former managing director of Goldman Sachs -- about how we got here, and where we're headed.

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Journalist Nomi Prins: Blankfein Hires Criminal-Defense Lawyer to Save His Skin 1/2

Journalist Nomi Prins: Blankfein Hires Criminal-Defense Lawyer to Save His Skin 2/2

Journalist Nomi Prins talks with Alex about Goldman Sachs CEO Lloyd Blankfein hiring a major criminal-defense lawyer following the financial company betting against its own clients. Nomi's latest book is It Takes a Pillage: Behind the Bonuses, Bailouts, and Backroom Deals from Washington to Wall Street. She worked on Wall Street as a managing director at Goldman Sachs and ran the international analytics group at Bear Stearns in London.
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Nomi Prins: "Governments Throwing Money at Banks to Gloss Over Ticking Time Bomb" So how does what's going on across the pond in Europe, with Greece and the Eurozone affect Americans? Well, US banks are a great place to start. They've reportedly sold a lot of insurance against credit losses to holde ...