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Bank Watch, page-14

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    The analogy is a bath tub full of water. Everything can float until somebody pulls the plug. Then it all goes down the plug hole. Metaphorically, the water in the tub is trust. The financial markets are all underpinned by trust. When something or somebody breaches this trust then everybody runs for the hills. Those that can't escape the vortex get sucked down the plug hole.

    It has happened before plenty of times and it will happen again. I tend to agree that your "bank watch" is the weak link in the chain of trust eshmun.

    Thanks for posting this commentary.

    Cheers
 
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