"The European Central Bank has ungodly amounts of Greek debt, [but] the more troublesome issue is what is the exposure of the French and German banks," says Amar Bhidé, the Thomas Schmidheiny professor of international business at Tufts Fletcher School of Law and Diplomacy and author of "A Call for Judgment: Sensible Finance for a Dynamic Economy." Bhidé spoke with The Deal's Mary Kathleen Flynn at the NY Forum this week and cited rumors that the banks in both Germany and France may have "written credit default swaps in amounts many times larger than the actual debt" as a key unknown that could paralyze credit markets. - George White

See the book review on The Deal Economy
See blog post "Making the argument against the big banks"
See The Deal's interview with Amar Bhidé on "A Call for Judgment"