Momentum in the UK for currency de-leveraging is slowly starting...

Quote from davidmaria1:

"little or no useful social" purpose.
What a hypocrite.
Didn't he defend Lloyds the Bank Employee bonus debacle?
Doesn't Lloyds have a prop unit dealing in currencies?
http://www.lloydstsbcorporatemarkets.com/corporateservices/riskmanagement/forex.asp

Unless they were sep. divisions and employees, or I have the wrong Lord?
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Hopefully, the European banks have enough incentive to make sure that de-leveraging does not happen on their continent.....

I would think that they certainly have more political wherewithal to make sure this does not happen since we are not talking only about peanut-currency bucketshops - and are talking about multi-billion dollar banks....

In any event, I think that 2010 will be the end of generous leverage for retail accounts worldwide. Let's revisit this topic on 1/1/11
 
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