Paraphrase: Everybody has untold amount of skeletons in his closet. However, everybody is denying it. Still everybody is convinced that everybody else also has truck-load of skeletons in his closet and denying it with straight face.
No amount of bailout money would fix this mistrust. The financial world is as opaque as ever. Probably the most opaque in 100 years.
So nobody trusts nobody else’s financial health
This latest storm is in Eastern Europe. Austrian banks lent out billions there and so did German
I should stop blaming Wall St
It was a worldwide tulip mania