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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (113244)	7/23/2010 12:35:32 PM
From: Hawkmoon	Read Replies (2) \| Respond to of 116555

I am not sure how many banks within the EU went belly up but it is obvious that in the US over 96 banks went belly up and the FDIC run out of money. Yes.. and those banks are going belly up, although probably not as fast as some would like. Listening to Kyle Bass now, who's acknowledged as a credible source on analyzing banks. He's not convinced by these "stress tests" in Europe because they are only counting sovereign debt held in trading accounts and not on the overall books. I think this is going to create some fertile ground for discussion just how transparent these tests are. There's a lot more at stake in giving the European banks a "pass" given the potential for a EU breakup and dissolution of the Euro. I'm not going to pretend to be an expert.. I'll leave that to others. But I remain open to being educated and sizing up the various arguments and data. Hawk