Aug 17, 2011

Bill Laggner on sovereign debt

The market is saying, get together and impair the stock and bondholders and come up with a restructuring that makes sense. But the pain would be so extreme, mainly for the bankers, that they don't want to do it and the political class doesn't want to make them do it.

"Europe didn't dodge judgement day",, June 30, 2011

No comments: