Epstein Secrets

h CEO, David Komansky, is another former megabank CEO calling for the breakup of "too big to fail" banks, according to Simon Johnson. Komansky told Bloomberg TV that he "regrets" calling for the repeal of Glass-Steagall, which allowed banks to become bigger than ever. Sallie Krawcheck: Former Citigroup CFO

he Cyprus deal fatally undermined depositor confidence, thus making bank runs in other countries more likely. Certainly Cyprus and its paymasters in the European Central Bank have broken a taboo of the common European currency by imposing controls on the flow of capital into and out of the country, albeit "temporarily."

conditions supportive of growth. While we expect the European Central Bank (ECB) to gradually shift to a more neutral stance

r Es a 4 oe Ses 2 Fea f = 2 22 3 sf SE a te ge < = 2 zs eer 8 = = 3 wn New Zealand Data as of December 31, 2016. Source: Investment Strategy Group, Bloomberg. Czech Republic South Africa 60 | Goldman Sachs | JANUARY 2017 HOUSE_OVERSIGHT_014593 --- PAGE BREAK --- incorporates this view, as we are neutra

osite —No-change line 35 08 09 10 11 12 Source: Bloomberg, UBS CIO, as of September 2012 Note: Past perfor

tion of US Treasury and German Bund yields are important for EM fixed income spreads, especially for USD- and EUR-denominated bonds. Key date: Dec 6, European Central Bank meeting Capital flows The European debt crisis may lead to further periods of outflows and weaker prices, which could offer attractive entry levels