BOMBSHELL REPORT - European Central Bank Risks Being 'Bankrupted' By Bailouts: "If Assets Fall By Just 4.23%, Its Entire Capital Base Would Be Wiped Out"
Leverage is a cruel beast when your assets are collateralized junk from Greece, Ireland, Spain and Portugal.
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The European Central Bank is "looking increasingly vulnerable" and may face "hefty losses" as a result of propping up indebted eurozone countries, a leading think-tank has warned.
The International Monetary Fund's partner in the recent international bail-out missions is itself in danger of becoming a liability, Open Europe has argued.
In a report published on Monday entitled A House Built on Sand?, Open Europe has calculated that the ECB has a total exposure of about €444bn (£397bn) to "struggling eurozone economies."
The bank is now "23 to 24 times levered" as a result of bailing out Greece, Ireland, Portugal and Spain.
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Related reading...
"Less Than A 3 Percent Drop In Asset Values Could Wipe Out Wall Street" - Crisis Panel Says In Final Report
Reader Comments (11)
'This is Ground Control to Major Tom'...countdown begins in 3, 2, 1...
How and when is Hillary going to attend?
My guess is late Saturday and Sunday.
Will we ever know...
http://www.suntimes.com/5761360-417/first-lady-michelle-obama-daughters-made-secret-trip-to-chicago.html
Where is Bill?
Michael Bloomberg forced Anthony Weiner out of the 2009 mayoral race—before he'd even decided to run—by convincing the Queens congressman the mayor's re-election campaign had more dirt on him than it actually did, Harry Siegel of the Village Voice reports.
Hmmmm, makes you think who knows what about Barry and how are they using the info.
Will they go after Bloomberg? Ha, no. This is just going to become another Blago mess of liberal he said she said. Circle those wagons.
Sarah Palin emails get released...
Timing is everything. Keeping us busy so we don't become aware of what's really important.
Can't wait to see your many Palin articles DB.
Now, don't be late
and don't act lost,
or we'll do to you,
like we did to Foster!
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not too interested in that story z...my work is done with palin...i don't worry about her much these days...she destroyed her political career herself by appearing on tv so much as a pundit these past 18 months...the people figured out that she's lacking a cerebellum and her numbers are WAY down as you know...
I will be very impressed if you can keep to your word.