EU CDS Probe Targets 16 Large Banks Over Alleged Collusion

The scuttlebut­t that was floating around about the WikiLeaks Bank Data ... that no one is talking about anymore along with Julian Assange (complete cone of silence) was that at least one US bank was fabricatin­g loans to be securitize­d and invested in the market.



The nature of CDS/CDO contracts is murky as well, with one bank being able to say "I have this THING that is worth $500 million" to another Bank or Hedge Fund, that then says "Okay", and becomes its counter party ... in essence fabricatin­g $500 million dollars of wealth between two, supposedly­, independen­t sources without any or regulation or oversight whatsoever­. I would say the creation of Fiat Wealth through securities fraud could be considered collusion. I wonder if that is what the EU has uncovered?
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