7 votes

A Portuguese Domino Falls

Last week we wrote about trouble brewing in the Portuguese banking sector.

The media advised to "stay calm" and the bank itself reassured its customers that the problem was with the holding company, NOT the bank itself

Then today we get this news: Espirito Santo Financial Group is Seeking Creditor Protection

Lesson: Trust your instincts. When they tell you everything is fine and it doesn't seem right to you, don't go back to your seat.



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This is only a shock to the

This is only a shock to the EU nutjobs that believe the propaganda. Anyone with a brain saw this was coming miles away.

I wonder if we'll see more Bankers base jumping sans parachutes in the near future.

"The United States can pay any debt it has because we can always print money to do that." — Alan Greenspan