The astute manager from Franklin Templeton just said so on BNN Marketplace.
"The subprime issues are pretty much out of the way", he says. The clever american banks spread the subprime risk to banks around the world so the problem has been dilutes I guess and there are no real problems to worry about.
Meanwhile we see that in Australia alone, their banks are exposed to over $14 Trillion in derivatives with $2 Trillion assets and only $100 billion in shareholder value. Then it appears Germany's banks are all at the edge......just a few crumbs to observe while the insurers face disaster.
And this guy above says with a straight face what he said?!
Go figure.
