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Why investors are freaking out over European banks (again)
The world is once again growing nervous about the health of big banks -- especially those based in Europe. Not only are bank stocks plummeting at an alarming pace, but investors are raising their bets that some could even default on their debt if the global economy sinks into recession or the crash in oil prices deepens. The cost to insure Deutsche Bank's (DB) debt has skyrocketed 182% over the past three months to the highest level since the 2011 sovereign debt crisis, according to FactSet. Credit Suisse (CS) is also under fire, with the cost to insure its debt doubling. Fear about European banks is adding to the ... (full story)