...so the socialist states over there are WORSE off than we are? And the solution to our crisis is to copy the European model? Am I understanding this correctly????
It was interesting to see the US Dollar versus various foreign currencies, from the Euro to the Mexican Peso. You knew something was up when the USD bolted upwards. Capital flew from somewhere into dollars, muy muy rapidamente. I think the Euro was down about 10 percent from recent highs, and the Mexican peso down about 8 percent or so. Eurobanks must be hurting to see their currency depreciate more than Mexico’s. Aye, Carumba.
“The Irish government issued a blanket guarantee of the deposits and debts of its six largest lenders”
And they haven’t got the cash, or the GDP to cover it, while expecting the EU to pony up and assure it.
The EU banks are why we see the “urgency” to pass this BAD BAILOUT now. We are going to be FORCED to pay for the results of HORRIBLE Democrat Social Engineering-by-Mortgage, but we should NOT have to pay to bail out Euro and Asian banks bad investments, as well.
Some of these overseas banks are MASSIVELY over-leveraged, like Deutsch Bank.
Which Main Street are they talking about?