Plus, today is the unofficial five year anniversary of the credit crunch. Five years ago the Dow fell nearly 400 points, as French bank BNP Paribas announced it was halting three funds with exposure to US subprime mortgages. Global banks stopped lending to each other, which triggered a credit freeze, and Central banks quickly intervened. We talk to Constantin Gurdgiev, co-editor of "What If Ireland Defaults," and take stock of where we are today, if we're looking at any kind of repeat, and why or how it could be different this time.
And Brazilian Central Bank employees strike! Could we be onto something? What kind of central bank activities could be halted by worker protests? Lauren and Demetri muse over the possibilities in Loose Change. Source
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