Leaving us with the same questions that arose during the mortgage crisis – who are the counter-parties? Well I spoke to one banker recently who said that he was worried because his counter-party on a large number of risky investments was… Commerzbank. Germany’s walking dead was the counterparty he was counting on to save him if he became exposed to losses. That’s like having a lead teddy bear for comfort on a sining ship.
— Growth will save us? You bet! | Golem XIV - Thoughts