Leverage: reality and Accounting

For over 5,000 years, by definition, the bankers lend money they do not have but that they have previously borrowed. To be able to borrow...

French Gosbank: tsunami risk!

The four French Gosbanks have €5.645 trillion of liabilities. That is 2.8 times French GDP (€1.986 trillion). Table 1: Amounts in billion of euros. Their...

Mish

Mike “Mish” Shedlock, Investment Advisor Representative chez Sitka Pacific Capital Management, LLC à Sonoma, Californie, bien connu aux Etats-Unis, a repris mes articles sur nos...

BPCE : 2° trimestre 2011

BPCE, la 4° Gos banque française à la botte de notre histrion ignare, n’arrive pas à diminuer son endettement ni à augmenter normalement ses capitaux...

BNP Paribas leveraged: 27!

The real leverage of BNP Paribas is … 27.2! Indeed, the French bank counts in its equity item 2: Undated Super Subordinated Notes eligible as...

Mon article sur la Générale sur Zero Hedge !

Un de mes honorables lecteurs m’a appris que mon article sur les exploits des mécanos de la Générale a été repris par un article publié...