[mlocher]

"Until the stock markets open (Monday) the extent of earthquake caused by the downgrade of the US debt rating will not be known," Spanish newspaper El Pais said.

Let's see .... Greece, Ireland and Portugual received bailouts. Spain and Italy are in dire financial straights, with Italy on the verge of a collapse. Cyprus is in a heap of hurt and Germany and France are getting fed up with having their pockets picked. It is possible that Europe is an even bigger concern to investors than the US downgrade. So, who does the Spanish newspaper El Pais single out as the culprit?

[L,TOWM]

Because now every bank or other financial institution in the world that holds US treasuries will have to take a haircut on those positions on Monday. The downgrade cost every and bank in the world a couple of hundred million. Let’s see who passes their stress tests, now, hmmmmm?

[MileHi]

...Germany and France are getting fed up ...

Irony...