ok so the italians (god bless them) appear to be in quite a bind here. they are telling you that some of their major banks (read: mph) are in trouble, despite their optically adequate capital ratios. ok, so just bail in bondholders you say! er…problem is they are all held by italian retail i.e. regular italian dudes that aren’t qualified to hold risky securities. torching them would likely mean a revolution in the country at a time in which europe can ill-afford another one of its members to lurch into crisis. ok..so bail them out! too big to fail! er…problem is the eu has passed laws prohibiting taxpayer bail outs of banks.  ok…so inflate your way out of the problem! er…too much debt, currency union etc etc. god knows how this ends..maybe the pope should weigh in with his opinion….all i know here is that there are no ‘good’ solutions…only ‘less terrible’ ones. speaking of terrible..new low for #MUFC. i get all the reservations around jm….the only retort is HOW COULD IT POSSIBLY BE WORSE. the post-ferguson era has shown us that stability/long termism in football is no longer possible…amazing parallels to the investing world…see i told you this combination made sense…