The Next Banking Crisis Starts Here

Fears of a banking crisis and rolling contagion are making global stock and bond markets extraordinarily volatile - and with good reason. Another financial meltdown, on par with what we saw in 2008, is looming large on the horizon. One of two potential triggers could ignite a new banking crisis, a rapid contagion, and a second financial meltdown: One or more of the troubled European countries could default outright. Or a major money center bank could be turned away from the interbank borrowing market by its peers. The panic resulting from either catalyst could start at any time.