Whenever the government tells you to not worry about something, “it’s time to be very worried.Submitted by dexterszyd on Fri, 02/22/2013 - 22:00
Why a banking insider says “it’s time to be very worried”
by SIMON BLACK on FEBRUARY 20, 2013
Reporting from Santiago, Chile
Apparently the Latino version of Jusin Beiber is in town.
I have no idea who this kid is, but as I was walking into the W Hotel last night for a meeting, there were hundreds and hundreds of adoring prepubescent girls lining the metal cordon that had been set up outside of the building.
Then he walked outside, flanked by hotel security. He couldn’t have been more than fifteen, a bit pimply-faced and gangling at that awkward age. But the crowd couldn’t have cared less. The screaming persisted for ten minutes… just like those old black and white reels of teenage girls losing their minds at Beatles concerts fifty years ago.
Despite all the commotion outside, I met up with my colleague, and we dove immediately into a conversation about international banking and the state of the global financial system. As a senior executive of a large international bank, he is the ultimate insider. And I was floored by what he told me.
Read more here: