Hundreds of billions of dollars of additional potential legal liability, much of which likely borne by US banks, yet very few are paying attention. Here's how I see it...
It truly appears as if European authorities have pretended so long that they have actually forgotten (if they ever knew) the difference between money printing and true economic progress. The results of such will not look good...
It's just a matter of time before Bunds become the target of bond vigilantes unless Germany pulls out of the political fundfest that is runnnig nowhere very fast
Sell side Wall Street vs Reggie Middleton on FB - 6 buys, 3 neutrals, avg price target $39. NOBODY came out with a short @ IPO besides moi. Guess where I stand now...
Goldman got those positions in last week, just like BoomBustBloggers did, and now its time to tell the muppets to help drive the prices down??? Paranoid conspiracy theory or just plain fact?
What the MSM is missing is that Spain's failings make this real. Spain is big enough to bring down the whole shebang, right now, and its banks cannot be salvaged with just a hundred billion or so.
In 2/08 I called Morgan Stanley "The Riskiest Bank on the Street!". It promptly collapsed! I believe I was the only one to publicly make such a bearish proclamation. Well, here we go again...
Remember, both as my research and the past 5 yrs have made clear, counterparty induced banks runs are the most damaging and Spains banks are hit from both RE and Sovereign debt crises. Who wouldn't run from this?
