And each time the Fed came to the rescue with another round of QE type bond-buying stimulus, but we do have to wonder what the Fed can do about it this time.
If Angela Merkel and Nicolas Sarkozy can stomach the political backlashes in Germany and France, a TARP or Brady Bondtypeof solution would likely please the market and propel stocks higher.
CDSs were sold as a protection policy to bond holders just for this typeof scenario, yet officials may not be fully confident in that CDS protection holding up.
It is mawkish and it attempts to resurrect an appeal in a typeof Britishness that the 1960s laid to rest but which Bond has been giving moth-to-mouth ever since, never more so than here.