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

From: RTAmerica  | Nov 2, 2011 

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.

 here is the full episode of the Capital Account