The Global Banking Game Is Rigged, and the FDIC Is Suing

Jay OwenReforming Global Finance

Taxpayers are paying billions of dollars for a swindle pulled off by the world’s biggest banks, using a form of derivative called interest-rate swaps; and the Federal Deposit Insurance Corporation has now joined a chorus of litigants suing over it. According to an SEIU report: Derivatives . . . have turned …