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Full Details On The European Bailout From Bank Of America

Submitted by Tyler Durden on 05/10/2010 05:31 -0400

An expanded, if conflicted (it comes from one of the pillars of modern-day Keynesianism: Bank of America) overview of the full European bailout by "Europe", which will now rely on the Fed to purchase EU debt and fund hundreds of billions in FX swaps. Can we now drop the charade that the EU is a viable structure, and stop pretending that Europe is anything but America's most recent geographic and monetary acquisition, or is it still too early?

€750bn: Europe gets serious - ECB to buy bonds

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Mon, 05/10/2010 - 05:46 | 340732 asdf

who would ever have thought that you could read such a headline

Bundesbank Says It Is Buying Government Bonds Today

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=at9mITHWI7Z4

Mon, 05/10/2010 - 05:47 | 340733 Fecklesslackey

The headline should be "US Taxpayer Bails Out World" .. then sinks

Mon, 05/10/2010 - 05:48 | 340736 theprofromdover

Definition of a coup?

Mon, 05/10/2010 - 05:49 | 340738 Fecklesslackey

How can CNBC spin this? IMF to guarantee 600 Bil ... US picks up 200 Bil

Mon, 05/10/2010 - 05:57 | 340742 SodaBoy

Europe is USA's acquisition? That makes China what?

US Taxpayer has not - and will not pay a dime... why should they start now when they haven't paid for anything ever? Daddy China will take care of everything...

Mon, 05/10/2010 - 06:29 | 340743 GBT

I'm wondering if we'll ever reach a point when the American people just snap. Nothing meaner than a pissed off sheep.

Mon, 05/10/2010 - 06:30 | 340776 MaxPower

Have you ever read Vonnegut's short, "Harrison Bergeron?"

I'm curious about the same thing, but I'm afraid I'm fresh out of Hopium. Reality is a cold, hard, unemotional bitch.

Mon, 05/10/2010 - 09:32 | 341042 Double down

We all know they do not get it. A part of me can almost forgive them, I mean it takes a genius to actually do this, an insane genius.

Mon, 05/10/2010 - 12:38 | 341449 BlackBeard

People usually don't become violent in terms of civil disobedience until they have much more to gain than they have to lose.

Mon, 05/10/2010 - 06:19 | 340761 Kina

Hey Europe - you are now owned. Pay the rent or get out.

Mon, 05/10/2010 - 06:33 | 340782 virgilcaine

Do we own their women ?

Mon, 05/10/2010 - 07:09 | 340829 anony

"The One World Economy".

Soon showing at an absurd theater near you.

Mon, 05/10/2010 - 07:35 | 340864 Psquared

Look at these futures +399. As far as rescuing the market this ploy is absolutely working. They simply cannot have banks start losing money on their investments which they bought with money borrowed at ZIRP and have to raise "real" capital.

Unbelievable. They just kicked the can down the road a couple of years and caught a few bears with their hand in the cookie jar.

Mon, 05/10/2010 - 08:29 | 340931 Cursive

The can may have been kicked as far as this afternoon. Don't be too optimistic.

Mon, 05/10/2010 - 08:37 | 340947 Canucklehead

Ramp it to the moon, then turn around and drive it into the ground. 2 months sounds about right.

Mon, 05/10/2010 - 07:43 | 340877 torquinus

The lawlessness of it all, breathtaking.

"Can you do addition?" the White Queen asked. "What's one and one and one and one and one and one and one and one and one and one?" "I don't know," said Alice. "I lost count."

"When I use a word," Humpty Dumpty said, in a rather scornful tone, "it means just what I choose it to mean - neither more nor less."

Mon, 05/10/2010 - 08:01 | 340899 primefool

Its always great to read the opinion of a bankrupt bank on the bailout by bankrupt countries of even more banrupt coutries with freshly printed money by intellectually bankrupt komrades.

Mon, 05/10/2010 - 08:31 | 340933 AccreditedEYE

Mon, 05/10/2010 - 08:32 | 340937 Cursive

Jinx!

Mon, 05/10/2010 - 08:38 | 340948 AccreditedEYE

LOL!! Good minds think alike.

Mon, 05/10/2010 - 08:31 | 340934 Cursive

Mon, 05/10/2010 - 08:12 | 340913 jkruffin

I really do believe it is now time for Americans to completely stop paying any of their debts. If an entire country or countries in this case can be bailed out in a matter of hours with ridiculous terms and no consequences, then there will be no more judgments or collection activity against anyone ever again. Just stop paying folks. What good is a credit score in this environment? Non-payment and bad behavior is being rewarded across the globe now, so it is time for the little people who are flipping the bill for this crap to get their turn.

Mon, 05/10/2010 - 08:41 | 340949 tj3