Looks like we’re in store for another wild ride in the Stock market. Europe’s debt woes are rapidly approaching some form of end game…I hope. The ECB and European banks are still pretending that Greece is ok and will eventually recover. I think they’re just buying time to prepare for a hard landing. Now Moody’s is finally getting around to downgrading the banks (nobody ever accused them of an excess of foresight). It’s like a game of musical chairs except when the music stops, more than one chair will be missing!
Downgrading the banks is now pending
For all of their profligate lending.
With no Golden Fleece
Anywhere in Greece
All that’s left is an unhappy ending.