Italy’s Draghi and Germany’s Weber insist European banks are better capitalized than their Us counterparts and are in good financial shape. these are the same officials who assured us over the summer that there was no chance for a material slowdown in eurozone growth despite slowing growth elsewhere. We all know how that one worked out!
Hopes for an AIG lifeline from the Fed are helping prop up the Dow at the moment and prompting covering of risk aversion trades in the currency market. The Fed declined comment on the AIG talks.
