"In the post "The
Ironic, Prophetic Nature of the MF Global Bankruptcy Filing and It's Potential
Ramifications"
I identified the MF Global event as something that the mass media and
many analysts are resisting to do. I called it for what it was - a run
on the bank - plain and simple. I forecasted this "new-ish" style of
bank run (a run where instiutional counterparties cause the drain) about
6 months ago, see The Anatomy Of A European Bank Run: Look At The Banking Situation BEFORE The Run Occurs!
Well,
there have been runs on the bank in Europe, and it has skipped the pond
to arrive here in the states. It's just that no one want to call it
that, even though that is exactly what it is. On of the pertinent points
about these bank runs is the abject risk it showers the brokerage
account holder in those banks with. Remember, thanks to TBTF, banks
customers are no longer those silvery haired grandmas walking out with
toasters. Which brings me to an interesting story by Jonathan Weil over
at Bloomberg: MF’s Missing Money Makes You Wonder About Goldman..."
at http://www.zerohedge.com/contributed/yes-boombustblog-forecast-pan-european-bank-run-has-breached-american-soil
I identified the MF Global event as something that the mass media and
many analysts are resisting to do. I called it for what it was - a run
on the bank - plain and simple. I forecasted this "new-ish" style of
bank run (a run where instiutional counterparties cause the drain) about
6 months ago, see The Anatomy Of A European Bank Run: Look At The Banking Situation BEFORE The Run Occurs!
Well,
there have been runs on the bank in Europe, and it has skipped the pond
to arrive here in the states. It's just that no one want to call it
that, even though that is exactly what it is. On of the pertinent points
about these bank runs is the abject risk it showers the brokerage
account holder in those banks with. Remember, thanks to TBTF, banks
customers are no longer those silvery haired grandmas walking out with
toasters. Which brings me to an interesting story by Jonathan Weil over
at Bloomberg: MF’s Missing Money Makes You Wonder About Goldman..."
at http://www.zerohedge.com/contributed/yes-boombustblog-forecast-pan-european-bank-run-has-breached-american-soil
