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"The market appears too sanguine in its view that a solution will inevitably be found," writes...

"The market appears too sanguine in its view that a solution will inevitably be found," writes Morgan Stanley of Cyprus. Even if the government, Troika, and Kremlin (Kremlin?) somehow reach agreement, the faith between bank depositors and policymakers will have been breached. "There are significant problems behind the curtain."
Comments (4)
  • Jim Fish
    , contributor
    Comments (298) | Send Message
    Dear genius that posted this... the source you have is of JP Morgan not Morgan Stanley...
    18 Mar 2013, 03:06 PM Reply Like
  • Dogpound
    , contributor
    Comments (141) | Send Message
    I guess no better time to buy those beaten up stocks like HPQ, upgraded by MS only hours ago.
    18 Mar 2013, 03:07 PM Reply Like
  • Jeremy Johnson, CFA
    , contributor
    Comments (783) | Send Message
    Cyprus is a banking hub for Russian corporates and super high net worth's.
    18 Mar 2013, 03:08 PM Reply Like
  • whidbey
    , contributor
    Comments (3391) | Send Message
    Sad but true, the sanctity of the private bank and its customer service contract has been breached first by deposit insurance (an evil when carefully considered - it a service to allow the bank to avoid responsibility for its management), and now by a unilateral change of the contact for bank services via imposition of third party claims against deposits with the bank. Taxes are collected from the payer, not his bank unless with due process of law first. This "tax" makes banks an arm of government, and so too your stock broker who now has the power to characterize your investments for the IRS as taxable or nontaxable. We can no longer trust banks or our brokers in their various forms.


    Government is inherently evil and the destruction of public trust in public institutions is the most evil of its acts.
    18 Mar 2013, 03:10 PM Reply Like
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