Swiss bank accounts. If O'Neill is waking up and smelling the coffee, things must be really bad.
Brazil is still a big wild card.
You can only do so much in asset-backed before you're hurting your profitability.
The whole name of the game in banking right now is trying to generate high-interest-yielding assets. That's what the credit card business is. Everyone has these deposits right now. They have to put them to work.
Lehman hit the cover off the ball.
We've seen the major car wrecks already.
The whole game now is just playing the yield curve.
Our feeling is that Brazil will default in the next year and you could have a similar problem to what you had in Argentina.
When rates rise, it's just difficult to make money. It's going to be hard on a lot of players.
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