Mega-Banks and the Next Financial Crisis
Hedge-fund manager Paul Singer recognized the risks of subprime mortgages and bet against them. Now he warns that monetary policy could cripple American banks again.
James Freeman, The Wall Street Journal, 19 March 2011
Phi Beta Iota: Absolutely worth a full read. Here’s the bottom line: US Government is simply not serious about regulation; the Federal Reserve in assuming faith in the dollar and printing money so fast inflation is inevitable and a total collapse of the dollar possible; the big banks are still over-leveraged; and a mega-meltdown is a virtual certainty. We assume the “elite” think they can stave off the melt-down until after November 2011 so as to have four more years of a compliant complacent government.