USA Watchdog: Huge Bank Bailouts Are Coming Because of the Coronavirus

Wayne Jett is an accomplished lawyer who has argued cases in front of the U.S. Supreme Court. Jett is also an expert on the Federal Reserve. 

If the derivatives market blows up because of the China virus chaos, will people lose their money in the banks? Jett says, “That is correct. 

That is exactly what the design is. As a result of the tremendous amount of derivative risk big banks have taken on, it exposes the FDIC and it would wipe it out in a moment. S

So, there would be another need for another bailout. It would make the $700 billion bailout of 2008 look like chicken feed.”

- Source, USA Watchdog