Russia Contagion Spreads To European Banks : French SocGen, Austrian Raiffeisen Plummet | WHAT REALLY HAPPENED

Russia Contagion Spreads To European Banks : French SocGen, Austrian Raiffeisen Plummet

We recently noted the rise of counterparty risks in the financial system due to oil prices dropping (and leveraged derivative exposures) but as the Russia situation has deteriorated so dramatically this week, a renewed focus on bank exposures has sent stocks reeling (and credit risk soaring) among many European (and US) banks.

Webmaster's Commentary: 

Oh yes, let's blame it all on Russia! Let us forget that this whole mess was started when the US and Saudi Arabia decided to flood the oil market to drive prices down, to harm Russia's economy, and in the process, slammed the economies of every other oil-producing nation on Earth, as well as commodity traders dealing with oil. So, as it all unravels, let's put the blame on Russia!

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