Friday, October 03, 2008

Those safe, conservative, European banks.

You know how we are always being lectured about how good europe is and how they don't go for this raw Anglo-Saxon capitalism. Well, it seems those good Europeans banks haven't been as safe and conservative as they would have us believe. According to this week's Economist:

Outside Wall Street US banks have lent 96c for every £1 deposited.
European banks have lent 1.4Euro for evry Euro deposited.

That doesn't sound very safe and conservative to me.

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