Chillin' out till it needs to be funded
Though, sitting in one seat all the time, we can’t continue wishing the world was in our control all the time, there is still a reasonable script out there for everyone willing to commit to following banking or crises ( and they are not synonymous, check some profitable operations here at advantages.us)
Someone sitting int he UK and in fact here in India may no longer feel very charitable about Credit Default Swaps having been used so many times in London desks to dabble in the biggest gambles, but is yet defined as a fair hedge on volatile lending, again despite its own volatile returns and noto so excusable,m its non legal binding legal basis of contract. As fair hedges, banks will condinue to buy this protection and we are just restating the obvious in defence of the first such sarcasm that appeared minutes ago on the FT Alphaville, because the CDS I think are the right instruments to be defended even as European Banks marry themselves to government supported Hybrids /Cocos from the RaboBanks and others despite the Swiss having thought it up. Apparently UBS and Credit Suisse talent are still not certified cattle despite results at their banks and the great RBS franchises are also not yet sold despite being for sale, but again, as the metier of our earlier prose of dat, it has already happened so it’s more odf reminding ourselves of the new normal than anything else.
There are banks that would earn a double digit rate of return of course and Goldman Sachs will be one of them, but the Swiss and the British, incl Barclays may have written themselves out of this act as they hold on to their public lisaison and grab the battle of the bonus like all thinges European, with a Viking shout and an English rudeness couched in polite trifles that will drive us on land to Rio in 2016 ( or the next Financial spectacle, this one is over) Hopefully 2013 at least would be a good year to return to business for the West.