That's about as relevant to today's modern banking system as the Hindenburg disaster is to modern aviation.
Perhaps your "fine education" was wasted on compiling a cornucopia of useless irrelevant historical trivia, instead of the practical application of contemporary knowledge.
YOU gots some UNlearn'n to do!
Your argument that Mat is a moron doesn't prove that gango7748 is not an idiot, which is what needs to be supported if you want to take her (?) seriously. Some financial events in this world do not have significant cause and effect relationships.
What happens in Greece doesn't stay in Las Vegas.
Merkel doesn't say she's against insolvency....just and orderly one.
"Merkel, in a German radio interview broadcast today, said that an “uncontrolled insolvency” would further roil markets spooked by the prospect of a Greek default. The euro region currently has no system for “orderly” insolvency until the permanent rescue fund is established in 2013, she said."
Hey, Gang, it is very annoying for you to force me to agree with Mat. Please post facts instead of private fears and fantasies and you will help me keep my integrity. Geez, now I feel really dirty talking to you.
it's not the Greed exposure!
It's the whole financial system.
The banks, here and abroad, are interconnected with loans and derivatives.
Remember Credit Anstalt Bank? a lowly bank that folded in Europe in 1932, I believe, which instigated the Great Depression by causing the world fianancial system to collapse.
just educating you son.