In September 2015, we wrote China? Oil Prices? Saudi Arabia? Iran? Why Volatility? The Grand Surprise Part II where we said “the depth of European Banks’ illiquidity and careless lending…
With one exception all of the Portuguese banks including Caixa Geral, the government owned bank, are technically bankrupt and insolvent.
I read with interest a Bloomberg article entitled “Italy Could Spark European Bank Crisis.” The article quotes Societe General Chairman Lorenzo Bini Smaghi as saying that “governments must accept…
We are facing a rerun of 2007-2008 with more dire consequences and a longer duration than we experienced then. The first blows will surface as a result of the…
Asher Edelman 