Exposure to Ice

[koganbot]

Krugman recommends Across The Curve, a blog by bond trader John Jansen (though Krugman himself has to look up some of the words, he says).

someone else mentioned to me that the debacle in Iceland might have implications in Scandinavia. The logic is that some of the big Scandinavian banks probably have large exposure to the Icelandic banks. It would not be a surprise to observe one of the Scandinavian banks emerge with more exposure to Iceland than anticipated.

In this environment, the market would punish that behavior severely.

By the way, my flist being strangely silent about this once-in-a-lifetime* financial crisis, is ILE having good convos on the subject? I haven't checked yet. (I mean, good for its attempt at economic thought, not just good if you're interested in the sociology of ILE.) In general, where are you guys going for conversation about the crisis?

*Or at least first-in-my-lifetime big-size financial panic.

Comments

Effects of financial crisis upon my friendslist:

[katstevens.livejournal.com]

#1: Dudes posting stupid photoshopped pictures of anything vaguely money related or humourously pointing that the UK is vaguely accusing Iceland of terrorism
#2: A sizeable handful of dudes going 'yikes loads of redundancies round our way but I seem to be ok phew'
#3: A v.small handful of dudes who work in banks appear to be sitting back and watching stuff happen whilst laughing nervously.