The warning about your life savings

New Frontline doc The Warning from PBS.

A quote from The Warning:

That's how the business has grown from nothing in 1980 to $600 trillion of contracts today. ~ Mark Brickell Chair, International Swaps and Derivatives Association (1988-1992)

From a Slate article to put $600T in perspective:

By contrast, the value of the world's financial assets—including all stock, bonds, and bank deposits—was pegged at $167 trillion last year by McKinsey.

This market is not only hidden off company's balance sheets to a great extent. This market is almost 100% hidden - that is, not transparent. And most importantly - this market is still completely unregulated.

There is maximum pressure from companies, that we bailed out with trillions by the way, not to regulate this market. These companies, who we gave our money to, are paying lobbyists hundreds of millions to lobby against "us".

If you believe "everything will come back" with your IRA's, 401(k)s etc without regulation, you are as foolish as someone who jumps out of an airplane without a parachute and expects the outcome to be ok.

If you choose to do nothing to fix this, like contacting your elected officials demanding regulations, you are as liable for the outcome as someone who doesn't help their next door neighbor whose house is on fire and is threatening your own.