El-Erian just screamed ‘shut their ass down‘ from New York to Paris.French banks have 1% capital. No polemic is needed. This is a solvency and liquidty crisis.Notice below the bold quote from the CEO of the world’s largest bond fund. Not to overstate the obvious, but 1% capital ratios imply leverage of 100:1.Calling Helicopter Ben…Sarkozy would like you at the launch pad, immediately.How soon does Bernanke’s central bank rain dance begin?—FT via MarketwatchMeanwhile, high-profile warnings over the state of Europe’s banks, particularly in France, came from a variety of sources.Mohammed El-Erian, chief executive...