keithpiccirillo

State Street Crumbles: We Are Running Out of Large Banks

Gee, that would make for a memorable trading session.
This plan if it could be implemented, requires you to be a trusting soul in a less than ideal world.
Europe and the British Isles in particular, have their own problems keeping some semblance of order, and you want to bring the soup to a boil?
How much of the MBS/derivative exposure can even be tracked from beginning to end to assign?
I believe each country would not be very willing to have their corporations show this, and many of them would just pull the Geitner crime of commission by omission.