The Doomsday Machine Returns: Citibank Has Sold Protection on $858 Billion of Credit Default Swaps

https://wp.me/p84NcB-r23

the federally-insured, taxpayer-backstopped bank owned by Citigroup, has sold protection to other banks, hedge funds, insurance companies or corporations on a staggering $858 billion of Credit Default Swaps. it is effectively taking on the risk of a default event.