Here is an interesting article from ActingMan web site having to do with the multi-leverage going on throughout the banking industry in Europe and how it ties in to the US. Also a mention and some quotes from another article on MF Global.

Banking is supposed to be a boring, dull, safe business. This is "Banks Gone Wild". Deposit Banking and investment banking should never been allowed to merge. The big banks are now not much different than highly leveraged hedge funds. Even the brokerage clearing houses get to play and speculate with our money.

This is not going to end well.

Hard assets with no liabilities are looking better all the time.

John