Another fun image from Europe
(following this Economist
cover earlier today) comes via this Spiegel report
on the shadow banking system that seems to have recovered nicely from that
little bobble in 2008.
After the experience of a few
years ago (recall that both Greenspan and Bernanke said the banking system
was sound in the years leading up to the crisis when all the bad stuff was
happening in the shadow banking system), you’d think that you wouldn’t
be reading things like this in 2012, but you are:
But banks, regulators,
politicians and economists are worried about the parallel universe that has
developed beyond the major banks.