“If Lehman has learned anything, it is that letting a systemic entity fail is a serious mistake.” Blasco
“These things that break down in a day then take weeks to stabilize.” We have not seen a cascade of problems but specific issues addressed with great energy. “Things should not get any worse because the strength we have right now does not call for a situation of nervousness like the one we experienced a few years ago,” in 2008.
It is possible that we will see some entity in the euro zone with a problem, but the issue is that if we are talking about a crisis of confidence, there is no entity that can endure. What is being taken to the heads of investors is that no entity is going to be allowed to fall. If something was learned from the Lehman issue, it is that letting a systemic entity fail was a serious mistake: right now the financial authorities are fully aware of this, I do not rule out that we could see another case in Europe but it would be isolated and the ECB’s response will be to do the impossible not to reach a critical situation. I count on the forcefulness.
If there were a domino effect in banking in the US “we would go to a tremendous crisis.” SIGNATURE BANK: It remains in the minds of investors that not only can they count on the Federal Reserve, but also that large entities have jumped in quickly to support entities that may be in trouble.
“We are not overly concerned about the recession because we think it will be mild and short-lived.”
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