Michael Shulman

The Odds in the Financial Sector: Damned If You Do, Damned If You Don't

Charts are fine -- but the off balance sheet assets that will probably end up on bank balance sheets -- the major banks - say something solvent - the major banks are technically insolvent if not illiquid. The crash this week is justified if you look at the town hall presentation by Citi - page 21 -- it shows many hundreds of billions of potentially toxic off balance sheet obligations hitting their balance sheet.