Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
The only problem with that argument is that it doesn't explain why bankers would want dollars instead of debt assets in the first place.

I don't see bankers in an active position now. They made their move when loaning, and now is up to borrowers to decide whether to return debt as quickly as possible (hence, pushing cash to bankers) or to keep "assets" for bankers.

The only thing than bankers can (or cannot) do is to lend more. But here they are reasonable enough with cynic value estimates of potentially new loan "assets".

by das monde on Wed Sep 2nd, 2009 at 11:11:28 PM EST
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