Think this is far away?
The curve blowout this morning in Greek debt has been cataclysmic;...
...how much of their debt is now sitting on bank balance sheets with a mark-to-market loss of how many billions due to the coupon shift upward? Oh no, we better not talk about the black hole opening up on bank balance sheets (again)..... that might be a problem eh?
(Vox, quoting Ticker)
Vox recalls that our Banks are still sitting on mortgage "assets" which are worth about 42% of face value.
And some of our Banks are also sitting on Greek bonds. While it is true that the US economy seems to be in recovery, the economy could also resemble Sisyphus for the next several years.
Subscribe to:
Post Comments (Atom)
1 comment:
The greeks are gonna have to make a move towards the EU or IMF lifeline very soon. Only a matter of time now.
Post a Comment