Loading ...If you sprinkled Holy water on these guys I wonder what would happen.
Maya
Interesting website. I’ll have to check it out.
“Demented Leader”
Would a “Dementia Joe” qualify?
Got my fingers crossed for Sunday!
PS I was glad to hear that Russia has withdrawn a lot of their troops from the Ukraine border area.
ipso facto @ 8:33 – “War on Sunday”
From G.A.Stewart’s “Age of Desolation” website… Nostradamus analysis of his predictions. Strong allusions to an ‘Easter War’ between Ukraine and Russia. Sunday is Orthodox Easter in that region.
While it may not be accurate to the precise day, much of the prediction is already fulfilled, and the parties are certainly on war footing. It will not end well.
There is also mention of a ‘demented leader’ starting WWIII. Sound like anyone we might know of?
Alex Neuman interview
If you have not obtained a copy of his latest book ‘Deep State’ , I recommend that you do so.
Maya @ 1:43
“War on Sunday”
Hadn’t heard that. Who’s going to war? I’m guessing you mean something more than the battle for investment survival.
Risky Finance believes there are more than $3 trillion of exposures. And the pressure to grow equity finance is leading banks to exploit loopholes in Basel rules.
The $3 Trillion Hidden Exposure Behind The Archegos Blowup
Authored by Nick Dunbar of Risky Finance
When the family office Archegos Capital abruptly imploded in late March, prompting $50 billion in block trades and $10 billion in losses at Credit Suisse, Nomura, UBS and Morgan Stanley, many bank analysts were taken by surprise. Last week, many of these analysts sounded frustrated listening to Credit Suisse’s earnings call in which senior management skirted round without giving any real detail about the disaster.
“Do you think it’s possible that this could produce a very fundamental reset in how your IRB credit risk models work?” wondered Stefan Stalmann of Autonomous Research. “I mean you have only CHF20 billion to CHF25 billion of counterparty credit risk-weighted assets on literally hundreds of billions of equity swaps and repos”.
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Risky Finance shares Stalmann’s bewilderment. Expressed as a capital requirement, Credit Suisse was able to satisfy regulators with just $2 billion of capital for counterparty credit losses – the lowest among the G-SIFI banks tracked by Risky Finance. Months later it reported a loss of $4.7 billion.
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It should serve as a warning. 14 years ago, obscure corners of banking businesses became hotbeds of regulatory arbitrage, speculation and leverage. The contagion of US subprime brought the financial system to its knees. Now, after years of low or negative interest rates, equity finance may have become a similar hotbed.
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The business is much larger than published estimates – Risky Finance believes there are more than $3 trillion of exposures. And the pressure to grow equity finance is leading banks to exploit loopholes in Basel rules. As in 2007, this is masked by the complexity of the models that Credit Suisse and other banks used to allocate capital to their prime brokerage business.
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Slow Friday nite
Everybody start their weekend drinking already? 🙂
Enjoy it while you can. War on Sunday.