Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
I think a large part of it is simply that financial regulators lack routine when it comes to placing large financial institutions in receivership.

But this is giving credit to the whole TBTF mythos. It has been over two and a half years since the crisis in Sept. & Oct. '08 -- certainly plenty of time to plan and thoroughly game various methods to "resolve" the biggest bank in the world. But is there any indication that any responsible organization has done just that?

I do not believe there is the political will to effectively deal with these problems. Instead, the entire resources of the bottom 98% of the population in the US, the UK and various other countries has been tapped and thrown under the collapsing houses of cards built by the various "Masters of the Universe". Is there ANY evidence that the total exposure and total risk of world wide financial collapse has declined?

What the world needs is a year in which to play out a Seven No-Trump contract in the world financial sectors. Ideally, it would be refereed by officials who had some concern for the bottom 99% of the populations of the concerned countries. In reality, it will occur but the financial elites will be allowed to make up the rules as they go and to their advantage. This could be the greatest calamity and involve the greatest loss of life the world has ever seen.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Apr 20th, 2011 at 03:23:19 PM EST

Others have rated this comment as follows:

melo 4
Gringo 4


Occasional Series