Inside Financial Services

FORTUNE NEEDS TO BRUSH UP ON ITS SCARE-MONGERING

The debt-ceiling debate is over for now, so the point may be moot, but this piece by Fortune writer Cyrus Sanati, “Default would be catastrophic for big banks,” is misinformed

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The debt-ceiling debate is over for now, so the point may be moot, but this piece by Fortune writer Cyrus Sanati, “Default would be catastrophic for big banks,” is misinformed to the point of being delusional. Note to Cyrus: no, bank capital is not “largely made up of Treasury bonds.” You see what I mean by delusional. . . .

One Response to FORTUNE NEEDS TO BRUSH UP ON ITS SCARE-MONGERING”

  1. onceBitten

    The sensationalist quality of Forbes headlines of late suggests an attempt to drive up web traffic prior to sale … about what one should expect from the Forbes ‘empire’ run by an egoist whose Presidential delusions of grandeur prevented him from realizing the folly of single-mindedly pushing a simple-minded idea until he became a caricature. Out Trumped by reality.

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