Russian Roulette: Taxpayers Could Be on the Hook for Trillions in Oil Derivatives

The sudden dramatic collapse in the price of oil appears to be an act of geopolitical warfare against Russia. The result could be trillions of dollars in oil derivative losses; and the FDIC could be liable, following repeal of key portions of the Dodd-Frank Act last weekend. Senator Elizabeth Warren charged Citigroup last week with "holding government funding hostage to ram through its government bailout provision." At issue was a section in the omnibus budget bill repealing the Lincoln Amendmen...