"Our Entire Banking System is a Complete Disaster"
This, from the most successful hedge fund in US History. The fund has returned all its investors money, saying its not even worth it. “Our entire banking system is a complete disaster,” they wrote. “In my opinion, nearly every major bank would be insolvent if they marked their assets to market.” FT Article
posted by John Liberty at 10:34 PM
1 Comments:
And the nightmare plods on. It's amazing how all this can be happening but we don't see spontaneous violence on the streets or something. ATMs just saying "It's all gone go home". I really have very little idea how far these systems are from our day to day life, and even though we may be seeing the effects of stuff like this, it's amazing what kind of damage mitigation can be done.
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