Bank Solvency -- Myth Versus Reality? There is, in the course of human events (to borrow a phrase from Shakespeare), a tendency to put a gloss on unpleasant facts. Wall Street terminology -- in its grossest form -- describes this as "putting lipstick on a pig." It is crucial, we think, to consider whether or not important banks are putting lipstick on a pig. If so, the key sub-questions would be: how much lipstick, and, more importantly, WHAT WILL THE CONSEQUENCES FOR THE FUTURE ECONOMY BE? |
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