tag:blogger.com,1999:blog-1527766217650773141.post7615626212013991037..comments2023-07-12T06:12:30.772-07:00Comments on Demand Side Transcript: Transcript 441: Another crisis on the way, says Wray, but shared sacrifice may also be looming, says HocholAlanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-1527766217650773141.post-9683208986582300852011-06-08T04:39:08.488-07:002011-06-08T04:39:08.488-07:00I agree with L. Randell Wray that reform will come...I agree with L. Randell Wray that reform will come again and probably very soon. The banks are not strong enough to withstand a series of euro defaults. If Ireland default then US banks are looking at $100 billion of losses. Portugal and Greece will add another $40 billion each. Though if it causes german banks to default then I suspect that there will be a series of US banks that collapse. So much for the return to the old ways. The real issue will be the reaction of Congress. If they capitulate to the banks lobbyists then the US could be facing a huge increase in debt, which would put the national credit rating at risk. Better to let the banks collapse and start afresh with a new financial system. Though will reforms actually go ahead?David Lazarusnoreply@blogger.comtag:blogger.com,1999:blog-1527766217650773141.post-53009202468417666262011-06-07T13:48:07.895-07:002011-06-07T13:48:07.895-07:00I appreciate this blog. Clarified so many things f...I appreciate this blog. Clarified so many things for me.Dina Strangehttps://www.blogger.com/profile/09077916681030320551noreply@blogger.com