DD,
Glencore is 10th ranked in Global Fortune 500, but it has a BIG problem. Cash on hand is $3 Bil. and $100 Bil. in liabilities..... In the current weak global economic scenario, if there is any Lehman Brothers moment, companies such as Glencore, and thousands others will be wiped off, impacting banks and other financial institutions on a scale that is hard to imagine. And then it will require the Fed to come up with 'Mother of all QE's' as the alternative will be to face the reality of long term economic pain that no political entity will agree to..... And so the game will continue.
Glencore is 10th ranked in Global Fortune 500, but it has a BIG problem. Cash on hand is $3 Bil. and $100 Bil. in liabilities..... In the current weak global economic scenario, if there is any Lehman Brothers moment, companies such as Glencore, and thousands others will be wiped off, impacting banks and other financial institutions on a scale that is hard to imagine. And then it will require the Fed to come up with 'Mother of all QE's' as the alternative will be to face the reality of long term economic pain that no political entity will agree to..... And so the game will continue.
You rightly say, the game will continue.