The 800lb gorilla in the room

The season of peace and goodwill to all men is nearly upon us... but not just yet. Just hours before the annual songfest that is the Commerzbank carol service, one market participant — with a remarkable resemblance to Shane Warne — had spent the afternoon raging down the phone to Loan Ranger about what he saw as bankers and investors avoiding the real issues at the previous day’s LMA meeting.