Nov 11, 2011 at 8:23 am
I’m as worried about Europe as the next guy, but I do find it useful to consider the extent to which our banks are exposed to diseased sovereign debt. Back in September I posted this figure, showing how US banks were not heavily exposed to the most troubled debt, though I was careful to note that it ain’t just bank exposure which can whack you—see MF Global, e.g.
But of course, as contagion threatens to spread, so does our banks’ exposure. This slide from today’s NYT shows that US banks hold considerable French debt (private and public), for example.
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