Bank deposit growth

Here's a pretty astonishing statistic from our friend Felix Salmon. Bank deposits are up $3 trillion. If we assume that's primarily corporate and High Net Worth money (given the negative savings rate for the general population), it signals a substantial risk aversion over the entire period, given that they're not in equities or bonds or something even fishier.

But, oh wait, they are in something fishier. They've got uninsured deposits in institutions punch drunk on vaporous underwriting and shareware risk management. You would think all those deposits would make for "capital adequacy." Guess not.