Admati: Italian Banks Have an Extreme Amount of Non-Performing Loans

Standford business professor, Anat Admati, spells out doom for the Italian banks. She doesn’t really offer a light at the end of the tunnel, just the fact that the tunnel is dark, ominous and without mercy.

Italian banks are saddled with a supernatural level of NPLs. The Germans and the French have orchestrated to keep Greece afloat for the benefit of their stupid banks, spreading out the toxic waste to every orifice of Europe.

The chickens, inexorably, will be coming home to roost one day and the Italian banks will most likely be the first to die from their ‘roosting.’