What in the World is Going on with Banks this Week? Emergency meetings, banker summits, crashing European banks, and the worst bank reports since the Great Recession

What in the World is Going on with Banks this Week? Emergency meetings, banker summits, crashing European banks, and the worst bank reports since the Great Recession ( monetarywatch.com )

submitted 2016-04-18T22:48 by ElspethTirel

2 comments

ElspethTirel 2016-04-19T00:03

That would be pretty insane if that happened, but I can't find a primary source for the story.

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OcculusResurrectio 2016-04-18T23:27

Apparently China may unveil a gold backed currency tomorrow. But I think this was about the stress tests performed on the major US banks and how all but Citi failed. There is a lot of exposure and much of it is on OTC contracts and some of the buyers aren't even known. So basically the banks are a complete shitshow just like they were before the 2008 financial crisis.

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