Global Financial System Faces Worldwide Bank Runs and Failures, Citigroup’s $300 Billion Problem

Three years after the height of the financial crisis, the issue of impaired assets on bank balance sheets remains a major risk to the health of the banking system. Regulators have allowed banks to avoid taking losses on impaired assets by not requiring mark to market accounting.  The extent of overvaluation on bank loans can […]

Will The Run On Greek Banks Spread Across Europe?

With the interest rate on short term Greek government debt approaching 100%, markets are saying that default by Greece is inevitable.  Greece is expected to run out of cash within weeks and massive civil unrest may slide into anarchy as protests become increasingly violent.  The bailout by the European Union that was supposed to save […]