Now, heres some news about reality amongst our banks: In a report direct from the OCC (Office of the Currency Comptroller) it has been reported that: U.S. commercial banks generated record revenues of $9.8 billion trading cash and derivative instruments in the first quarter of 2009, compared to a $9.2 billion loss in the fourth quarter of 2008. Derivative contracts remain concentrated in interest rate products, which comprise 84% of total derivative notional values. The notional value of credit derivative contracts decreased by 8% during the quarter to $14.6 trillion and Credit Default Swaps represent 98% of all credit derivatives.

The notional value is the face value; the amount thats used to calculate payments and in most cases, no money actually ever changes hands. The notional value of derivatives held by U.S. commercial banks increased $1.6 trillion in the first quarter, or 1%, to $202.0 trillion, due to the continued migration of investment bank derivatives business into the commercial banking system.
Heres a list of the worst derivatives offenders.

1 JPMORGAN CHASE & CO. $81,108,352,000,000
2 BANK OF AMERICA CORPORATION $77,874,726,000,000
3 GOLDMAN SACHS GROUP, INC. $47,749,124,000,000
4 MORGAN STANLEY $39,125,255,000,000
5 CITIGROUP INC. $31,715,734,000,000

As you can see JP Morgan Chase has $81 trillion in notional derivatives, B.O.A. has almost $78 trillion, Goldman is approaching $48 trillion, Morgan Stanley, $39 trillion and change and Citi has nearly $32 trillion.

Cmon these are the five biggest too big to fail banks and they are controlling our economic well-being? Wha ah uhat? And, why was Lehman allowed to fail last year? Ah, because Henry Paulson was never the CEO? Like he was as Goldman? Ah, just a guess.
Are we doomed? These guys are STILL saying that their toxic junk is worth something (notional value) and are trading amongst each other. In other words, when it crashes (again) they have their money sacked away and the public (think taxpayer money here) is on the hook (again).

I say get your money out of these banks, buy some real estate, and get ready for whatever is getting set to happen. One things for sure; your real estate purchase will be worth more than your dollars. Maybe you can fix it up and rent it, or better yet, sell it to a Chinese investor (preferably for gold).

May our friends respect us, trouble neglect us, angels protect us and heaven accept us.