Submitted by Tyler Durden on 08/10/2012 10:47 -0400
Creditors
recovery
Reuters
Just when you had got over the entirely inane creation of a living-will that purports to solve the taxpayer's dilemma should a large SIFI hit an iceberg; Reuters reports - this time super secret - the Fed, in 2010, asked for a plan from the US' Big 5 Banks for staving off collapse if they faced serious problems - critically emphasizing that the banks can't rely on government help. Read that again and we dare you not to laugh. It seems regulators are trying hard to ensure banks have plans for worst-case scenarios - in order to act rationally in times of distress.
http://feedproxy.google.com/~r/zerohedge/feed/~3/peW0IU5pfX8/fed-orders-banks-create-super-secret-entirely-useless-plan-avoid-blowing-each-other
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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