Most Europe Banks Insolvent If Marked to Market, Platt Says
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Most European banks would be insolvent if their assets had to be marked to market value like hedge funds, according to Michael Platt, co-founder of BlueCrest Capital Management Ltd.
Platt said he’s “radically concerned” about counterparty risk, and that the outlook for 2012 is “only going to get worse.” He spoke in an interview on Bloomberg Television.