Born into a Big 5 investment banking family, I quit organized financial racketeering to go straight. MacDougal Irving is my Blogger Protection Identity, and I am a retired Certified Public Accountant and, like all of us, a badly misinformed investor. These are my observations on capital market cons as they were explained to me across the dinner table as a kid.
Prize
........... Recipient of the 2010 MacDougal Irving Prize for Truth in Market Manipulation ...........
February 17, 2015
Ominous News from Greece
Depositors are pulling their money out of Greek banks at a steady rate, we're told in a curious report that goes on to headline something else. We don't know what the definition of a run on banks is, just that it simply introduces the word, "panic", into that very thing.
When that'll happen, if at all, is anybody's guess. We're just pointing to evidence that some kind of stealth financial debacle might be building.
Until this passes over, fellow investors, hold onto to your socks, and for goodness sakes don't look up at the fan.