I think it’s supposed to.
This is dawning on me. Oh my Lord.
Theodore Dalrymple offers an explanation in his latest essay. “There is no finer way to destroy bourgeois society, said Lenin, than to debauch the currency, a policy that he therefore favoured.” Until these banks can determine who it is that holds the guarantee of risk from default in these derivatives, or credit default swaps, and to collect it, it is hard to accept the notion of any bailout from Uncle.