Image via Wikipedia
Our banks are stuffed with loans to KFA, Air India and Microfinance that ain’t gonna be paid back (Govt to infuse Rs 7,900cr into SBI). In the US, the credit bubble bust is a gift that keeps on giving (Over 750 Banks at Risk of Failure over Next Two Years). In Europe, banks weren’t required to keep capital aside for sovereign debt (EU Sovereign debt was risk free, until they weren’t). Quelle Différence?
Mark your calendars: March 20 – Greece has no shot in hell of paying the 14.5 billion euro bond coming due, as things stand right now. (MarketWatch)
Avoidance of significant losses is generally worth accepting even long periods of defensiveness. The Baron Rothschild investment philosophy.
FT’s interactive PMI tracker: Every country tracked excepting China looks to have bottomed out in the last quarter. (FT)