Wall Street on Parade is the best available blog site that follows the daily activities of the Wall Street banks and the Federal Reserve. Authored by Pam and Russ Martens, the Wall Street on Parade blog routinely tracks the relationship between the worst derivative speculators and their counter-party insurers. The title of this article (March 29, 2020) succinctly describes the most recent economic and financial disaster caused by derivatives speculation: The Tide Is Going Out and JPMorgan, Deutsche Bank and AIG Appear to Be Swimming (Read Trading) Naked.
While last week’s bailouts, by both Treasury and the Fed, have helped stem the “tide” (no pun intended), the share prices for JPMorgan, Deutche Bank, AIG and Ameriprise Financial are falling significantly faster and farther than other financial and corporate share prices. This derivatives disaster is highly material to holders of annuities and life policies from any of these insurers, forecasting a near certainty that policy and contract claims will go unpaid–or at the very least–only partially paid. Continue reading “WALL STREET ON PARADE: “THE TIDE IS GOING OUT…””