The more a Greek default looks likely, the further into denial some in the financial establishment will go. International Financing Review posits that a Greek default will not destroy the euro. Perhaps a Greek default by itself will not be a sufficiently strong straw to break the camel's back. There's always Italy and Spain, two much more substantial bundles of hay ready to drop. The plunging share prices of European banks tell us plenty about just how much debt is bearing down on valuations.
I love riffing at random on such a fun topic. We'll have even more fun on this side of the Atlantic if a proposal to surrender some SEC regulatory power to FINRA actually goes through. The financial sector's capture of government, coupled with the crushing debt burden that will consume revenue meant for law enforcement, is outsourcing the rule of law. It will pay very well to have friends in high and low places in neofeudal America.
Europe and America need banking but don't necessarily need certain banks. Both regions need strong regulation of banking. That observation escapes notice in the midst of efforts to preserve bankers' equity-linked deferred compensation packages.
I love riffing at random on such a fun topic. We'll have even more fun on this side of the Atlantic if a proposal to surrender some SEC regulatory power to FINRA actually goes through. The financial sector's capture of government, coupled with the crushing debt burden that will consume revenue meant for law enforcement, is outsourcing the rule of law. It will pay very well to have friends in high and low places in neofeudal America.
Europe and America need banking but don't necessarily need certain banks. Both regions need strong regulation of banking. That observation escapes notice in the midst of efforts to preserve bankers' equity-linked deferred compensation packages.
