WSJ onto Danish bank failure from last week - the game has only started...

This past week was a bad one not only for Steeler fans, but also for prudent central banking(Weber feeling pressure to step down), for fans of buying time in the european banking sector. 

Amagebanken, an obscure totally amateur led real estate bank in Denmark collapsed despite rescue and write-issue less than six month prior giving bond holders their first taste of what's to come.

I have strong feeling Amagerbanken is the 2011 equivalent of the Bear Stearns funds in 2008 - and I'm, as probably the only one, deeply surprised at Axel Weber being out as European leaders prepare for the last chance to "save the EU", and the European banking system - again.

It's a joke and the joke is on us: the taxpayers, the investors.......

http://online.barrons.com/article/SB50001424052970204098404576130350689117480.html

It's too late to make new beginnings, but it's not too late to make new endings  - Bard

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