Friday, March 28, 2008

Scandinavian understatement ...

http://www.rgemonitor.com/blog/setser/251660/

But Iceland's banks borrowed heavily to expand abroad. They seem to be having a bit of trouble rolling over their debt, and could face additional risks if depositors start to pull their deposits. A world that is deleveraging rather than gearing up isn't good for them.

More margin call problems…

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