Greek Panic Update
May 09, 2010 at 19:31 PM EDT
Greek Panic Update – It appears that, as hypothesized here three months ago, the Greek debt crisis may actually be another Basel-induced banking crisis. Basel II (adopted outside the United States in 2007, but not yet adopted here, where Basel I (1991) and the Recourse Rule (2001) are still in effect) gave a zero risk weight [...]
