The Spanish Terror


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One Response to The Spanish Terror

  1. Rolf says:

    Whenever I hear the phrase “to big to fail” (TBTF), I always think maybe it really means they are too big to *save*, and people don’t want to contemplate the fallout from their failure, so they keep papering things over, bending or re-writing the rules, and praying for a miracle. But, eventually, The banking system WILL break.

    The only question is “how do you place your bets in the mean time?” The market can remain irrational longer than most of us can remain solvent if we guess wrong, so it is a critical question.

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