"The Banks are Just Fine"

Any question of the health of banks is dismissed by the "experts" today as the averages are down dramatically. Of course early in 2007 no one thought the banks were in trouble either. Except those early sellers. But they weren't telling then either. Please keep in mind that we will not hear the real reasons until after the facts.

All that makes sense is that the emerging markets economies have no end in sight to the commodity depression and they will have trouble paying back dollar denominated debt.  AKA debt default. Who holds the debt? And what will the response of the worlds central banks be? I can only see paper sacrificed on the financial alter to appease the market gods.

control risk,
gh