[TigerLikesRooster]

The reference to 16.3 trillion(not sure in pounds or dollars) was said to be there but is now gone, but the following is the link to the article, which still has '16.3 trillion' as a part of its file name.

http://www.telegraph.co.uk/finance/financetopics/financialcrisis/4590512/European-banks-may-need-16.3-trillion-bail-out-EC-dcoument-warns.html

[TigerLikesRooster]

Ping!

[GoLightly]

Since this seems to be worldwide, can’t figure out why they don’t accept a cross the board devaluation, revaluation & allow everything to seek its own level. Throwing fiat at it just means fallible men picking winners & losers. We are sooo screwed.

[DuncanWaring]

If you look at the HTML < title> it’s got that funny-looking crossed “L” for “Pounds”.

[rightwingextremist1776]

It seems to me the obvious point to all this is that socialism has already failed....and the point at which the total collapse of socialist policies is at hand. The teat of capitalism has run dry. And yet the left still cries that all too familiar phrase of the failure of capitalism.

[PSYCHO-FREEP]

Just do like the US is doing, promise more money later and start printing now.

[davidosborne]

this should be our wake up call folks.. if this does not motivate you to call your senators and tell them to vote NO on porkulous than I don’t know what will...

I posted this on facebook and encourage you to get the word out on this..

David

[gieriscm]

Things aren't rosy in the US either, per our own Dep't of Treasury.

[Chgogal]

Here is some interesting information regarding Europe and “toxic assets”.

On Feb 11, I read on the Drudge an article by the Telegraph stating that European banks were sitting on 16.3 Trillion Pounds of toxic assets. Since then the Telegraph has sanitized the article.

Here is the Telegraph article as it now stands:
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/4590512/European-banks-may-need-16.3-trillion-bail-out-EC-dcoument-warns.html

Here is the Telegraph article as it read on Feb 11.
http://forum.globalhousepricecrash.com/index.php?showtopic=47586

Here is an explanation by a sleuth of what happened:
http://www.creditwritedowns.com/2009/02/are-european-banks-sitting-on-163-trillion-in-toxic-assets.html

The last link is very interesting reading.

What interests me is the complete WORLD WIDE melt down. It’s not just Wall Street. If the original Telegraph article was correct, the EU is in worse straights than ever imagined. Singapore, Taiwan and South Korea are facing double digit GDP numbers. Japan is doing worse than expected. China is a basket case, as is Russia. It is unfortunate for the world that Children are running the Economy in the US.

If someone has a 12 step program to financially survive the next few years, I am all ears.