Bank Credit Spreads

"It's clear as a bell to those who pay attention. The mother of all evil is speculation--leveraged debt. The bottom line: it's borrowing to the hilt. And I hate to tell you this, but it's a bankrupt business model. It won't work. It's systemic, malignant, and it's global...like cancer."
--Gordon Gekko (Wall Street: Money Never Sleeps)

Hard to ignore trends in credit default swap (CDS) and other derivative prices indicating investor concern about global financial institutions.

Acute in names like Duetsche (DB).

Definitely getting some '08 vuja de.

position in SPX