Sunday, August 21, 2011

Apple is worth more than the European banking system

I'm not sure whether this says more about how successful Apple has been or how dire the situation in Europe is:

Its no longer a question of whether the European banks are solvent but rather how insolvent the European banks are. The situation is making a lot of people (and the markets) very anxious. The European banks are HUGE:

A run on the Euro banks could be disastrous, no one has enough money to backstop them.

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