Thursday, April 18, 2013

Overleverage in the Banking System

“We have a financial system that has been chaotic for quite a long time and I think the manifestation of the Cypriot depositor raid is symptomatic of what’s likely to happen going forwards,” Mr. Sprott said. “For us, it showed we do have a template because of overleverage in the banking system.”

- Excerpt from a recent Globe and Mail article: