IceCap Asset Management: "Straight From The Horse's Mouth"

Submitted by Tyler Durden
05/22/2011 17:24 -0400
25 comments

From IceCap Asset Management:

While the first round of bailouts started with the banks themselves, the next round spread to the very same countries who bailed out the banks to start with. Fast forward (a mere 2 years) to today and Greece, Ireland and Portugal are now showing the fissures within the European system. The next round of bailouts has the potential to crack the fissures wide open. So, here we go with round 3 of European bailouts which will consist of bailing out Greece, then Ireland and then Portugal yet again. Yes, this is the classic definition of insanity at its best. The risk now however with round 3 is that the Greeks have now informally played the “we’re leaving the Euroâ€