Thursday, 08 December 2011 07:01

12 Eurozone Downgrade Shock Waves Could Slam Into US Economy

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"6. Derivatives -- A potential euro collapse threatens the possible near term annihilation of the financial system through both credit derivatives and interest rate derivatives losses. The near criminal insanity of investment bankers writing themselves massive bonus checks for effectively standing in a circle and making promises to each other that none of them have ever had the capital to back up (in the event of genuine systemic crisis), will be brought to the fore."
 
Excellent writing. -- MCR
 
Last modified on Thursday, 08 December 2011 07:06
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