The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Sunday, September 25, 2011

The socialisation of private banking losses: taxpayer shareholdings in UK/Euro banks (chart)

Or, more precisely, taxpayer equity/other support as a share of total Tier 1 Capital in April 2011--well before the slated taxpayer recapitalisations of Euro banks in the next few months. The purple and green segments represent government subsidies. Expect to see them grow strikingly in Italy, France, Greece, Portugal and Spain, amongst others. Remember, these used to be all purely private concerns. Read also my challenge to Dr Stephen Grenville a few posts below.

at 11:27 AM