Let’s speak plainly.  If you are in the United States or Western Europe, chances are incredibly high that your bank is simply not safe. In other words, your money is at risk. Big time. Let’s review some of the chief concerns:

1) A black box of assets

2) The assets that we do know about aren’t winning any beauty prizes

3) Core banking business has all but shuttered

4) Lies, regulatory loopholes, and accounting tricks

5) The backstops need backstopping

6) No one is isolated

Your bank is not safe, 12/21/11

Facebooktwittergoogle_plusredditpinterestlinkedinmailby feather