From Peter Tchir of TF Market Advisors
S&PAAASDRIMFECBFedCDS
The fact that the global financial system hinges on these 7 sets of 3 letters is appalling and amazing.
If GS is the best and brightest the rating agencies are close to the opposite, yet somehow regulators let them set a ceiling on bank capital and now AAA or AAA on -ve watch could change the shape of Europe?
I still wonder whose face will be on the 1000 SDR bills - I was really hoping to survive without knowing these existed
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