This call I get every other day from London is always filled with different emotions. Those emotions in the voice is enough to tell me how the market is doing on the other side. The power of communication really.
So, I quickly ran through the highest profile US victims of bad debts on Eurodebts and it's finally updated! *gasps* As at September this year, MF Global has joined the gang, making it in the top 8.
Worrying indeed. As much as the bailout funds are finally out there, I'd say it's not close to being over just yet. However, they've definitely bought some time though :) These days any not-as-bad-as-expected news means good news. Plus, any good news don't necessarily mean that they've bought publics' confidence at all.
After all, the problem did not just start out because of those excessive borrowings during the good low-interest-rates times, but the fact that the Greece Government cheated on its borrowing statistics to qualify for the Euro in the first place. That's really not nice. That's like taking a lollipop away from a lil kid!
Karma hits right back in the face, no?
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