Warren: Americans ‘understand the game is rigged’

[dkf]

35. Swaps and counterparty risk are the problem.

I do not understand how Glass Steagall prevents that.

And our banks have deleveraged considerably but we still have risks because of the counterparties. Moreover the problem is that 7 of the worlds 10 largest banks are European or so I've been told. In this financially interconnected world I don't see how our laws can contain the systematic risk that exists in the global world of finance.

I think our politicians are kidding themselves when they think we can insulate ourselves.

Heck why are we captive to the corrupt Greek government? Is anyone immune because they regulated their own banking system Properly?