I beleive somebody here alerted us to a great article about
Europe back in November. We lost our five institutions that
were levered at 30:1. Bank of England and Deutche Bank are
levered at 50:1. The US exposure to emerging market soveriegn
debt is 500 bn, Europe is at 3.5 trillion. The second shoe to
drop in this drecession may be overseas. I make no claim to
the validity of these numbers as I never let the facts stand in the
way of a good story.
Ralph
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Leverage
Failure to save East Europe will lead to worldwide meltdown
Posted by ralph on 15th of Apr 2009 at 02:58 pm
I beleive somebody here alerted us to a great article about Europe back in November. We lost our five institutions that were levered at 30:1. Bank of England and Deutche Bank are levered at 50:1. The US exposure to emerging market soveriegn debt is 500 bn, Europe is at 3.5 trillion. The second shoe to drop in this drecession may be overseas. I make no claim to the validity of these numbers as I never let the facts stand in the way of a good story.
Ralph