Congressional Research Service Finds US Exposure To Europe At $640 Billion And "Could Be Considerably Higher"

Tyler Durden's picture

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Cash_is_Trash's picture

"I would reccomend you panic"

Hugh Hendry, bitchezzzz

Fish Gone Bad's picture

This will be the first DEPRESSION that everyone saw coming, and yet did nothing to get out of its way.  Paralysis by analysis.

MillionDollarBonus_'s picture

I've said it before and I'll say it again. It is CRITICAL to our success as a nation that our Federal Reserve fully bails out Greece. And I'm not talking just a few currency swaps - I mean full scale debt monetization. US banks form a large part of our economy and if Americans want to maintain their standard of living they need to listen to the experts on this issue. This is not a time for people to make decisions for themselves. Time of crisis require coordinated action by economic professionals, and we must act NOW or it will be too late.

legal eagle's picture

YOU MUST HAVE forgot to hit the sarcasm button.  LMFAO

mtomato2's picture

Seriously.  That was a good one, it was!

Ahmeexnal's picture

Six Million dollar man, meet the Six Trillion dollar bailout.

LawsofPhysics's picture

LOL!  Someone needs to tell that troll that those with all the fiat can fucking bailout greece and the pigs, nothing but PM holders on this site.

Cynical Sidney's picture

"I've said it before and I'll say it again. It is CRITICAL to our success as a nation that our Federal Reserve fully bails out Greece. And I'm not talking just a few currency swaps - I mean full scale debt monetization. US banks form a large part of our economy and if Americans want to maintain their standard of living they need to listen to the experts on this issue. This is not a time for people to make decisions for themselves. Time of crisis require coordinated action by economic professionals, and we must act NOW or it will be too late"

google translation:

milliondollarbonus said it before and he'll say it again. it's CRITICAL to our success as a national ponzi scheme that our Federal Reserve fully bails out other ponzi schemes. And he's not talking just a few currency swaps - he means full scale fraud monetization. US banks form a large part of financial fraud network and if Americans want to maintain their integrity they need to slaughter all the experts like banksters with milliondollarbonus.  This is not a time for principled americans to square it with themselves. Time of crisis require coordinated action by financial criminals to act NOW or our ponzi schemes will be too late to save.

Nascent_Variable's picture

We can reprint it.  Faster.  Inkier.  Worthlessier.

Dr. Richard Head's picture

The sooner we can get more people to realize that the bailouts are to keep those who are rich in debt controlling the resources, the sooner we can end this game of hide the sausage.

seek's picture

He's getting better at it. I'd give this post a 0.7 on the 0-1.0 HamyWanger scale.

goldfreak's picture

he forgot to hit the moron button

Abitdodgie's picture

  MDB You really are fucking clueless

mtomato2's picture

Love your bio, Abit.  Let's take a long walk on the beach.  Preferably in the rain.

 

/sarc

Idiot Savant's picture

Who's clowning who? ZH bios, who knew?

Al Gorerhythm's picture

<Sarc on>


I've said it before and I'll say it again. It is CRITICAL to our success as a nation that our Federal Reserve fully bails out Greece. And I'm not talking just a few currency swaps - I mean full scale debt monetization. US banks form a large part of our economy and if Americans want to maintain their standard of living they need to listen to the experts on this issue. This is not a time for people to make decisions for themselves. Time of crisis require coordinated action by economic professionals, and we must act NOW or it will be too late.

<Sarc off>

There. Fixed it.


devo's picture

I've said it before and I'll say it again. It is CRITICAL to our success as a nation that people like myself either pay fair taxes or jump off the nearest bridge.

Fixed.

 

piceridu's picture

MDB...now that's funny. The ZH Lounge Show strikes again.

Au_Ag_CuPbCu's picture

HA HA HA HA HA HA HA HA...MDB you're killing me LOL too funny.  I always look forward to reading your posts!

marcusfenix's picture

so let me get this straight, you're saying we should trust the very same economic "professionals" that sank the ENTIRE PLANET into this mess in the first place?

we should trust them while we sit here and watch them doing the very same stupid shit all over again, along with some brand new stupid shit...

and you are expecting a different result why?

trust them...yeah you go ahead and do that, let me know how it works out.

MillionDollarBonus_'s picture

"yeah you go ahead and [trust them], let me know how it works out"

We trusted economic advisors at our Federal Reserve to set interest rates, and they have been enormously successful. Interest rates are at RECORD LOWS despite the economic turmoil we are suffering. If rates were determined by the free market they would be much higher, and would cripple our fragile consumer economy. Only the brightest economists in the world should be involved in setting prices and capital allocation, for maximal prosperity and liberty. Smart economists are able to do the hard work for us so that we don’t have to worry about vastly complex economic issues. People like you are a dying breed – long live the PROGRESSIVE REVOLUTION. OBAMA/BERNANKE 2012.

Cynical Sidney's picture

we trusted banksters' enablers at our federal reserve to set interest rates, and they have been enormously treacherous. interest rates are at record lows on account of the economic turmoil savers are suffering. if the rates were determined by the free market they would be much higher, and would cripple our fragile wall street. only the most crooked economists in the world should be involved in setting prices and capital allocation, to maximize economic inequality and to enslave the masses in fiat debt. 'smart' banksters are able to do the hard work for us so that we don't have to worry about vastly complex financial weapons of mass destruction that will rob you clean and suck you dry. people like you are a dying breed, because obama, bernanke and their masters from wall st robbed you killed you slowly and buried you six feet deep under fiat debt. long live 2012 it'll be the last calendar year for humanity.

there all fixed for ya   

Ira Fuse's picture

MDB can you float greece a couple mill I hear they are paying great bond rates

fonestar's picture

MillionDollarBOGUS >than subtle trolling

tmosley's picture

Did you call the White House about your $1,000,000/year minimum wage yet?  I think that would take care of the domestic front at least.

lol

Alvaro de Esteban's picture

Do you really think that bailing out Greece will solve anything???

Thinking, not too much, just a litlle bit, before writing will avoid you a lot of embarrassment

Schmuck Raker's picture

" Thinking, not too much, just a litlle bit, before writing will avoid you a lot of embarrassment "

So true.

CapitalistRock's picture

Why did that wonderful centrally planned economic system not save the old Soviet Union?

Nobody For President's picture

You are truly fucking hilarious man. I NEEDED this on this Friday afternoon - makes me ready to go party, which for me is to go fly in a low and slow airplane and appreciate life.

But you are GOOD at the game you play in this group - props for being able to screw with a maximum amount of heads who think you are for real. Have a nice weekend dreaming up more ways to fuck with the troops...

legal eagle's picture

I like the paralysis by analysis stichk....I think I might be guilty of that myself.

There came into Egypt a Pharoh who did not know.

 

SheepDog-One's picture

'The US exposure'...hel with that I didnt tell anyone to lend money to Europe! This is the BANKS debt, not mine!

legal eagle's picture

A cogent point missed by 99.999999% of Americans, and the world.

Popo's picture

Except this shouldn't be a depression for everyone.   We can easily ringfence the savings and bank accounts of every American citizen.   "They" will keep trying to call this an "American" problem.   But it is really a problem for the 1%.  

Protecting the savings of Americans under the FDIC is COMPLETELY do-able.   (Yes, the FDIC will need additional backstops).

But (and lets be clear about this):  The wealthiest Americans will be utterly and completely devastated.  Shareholders in the Fortune 500 will be devastated.  Bank shareholders will literally be wiped to zero.

That's not an "American" problem though.  It's a problem for "some Americans".

Those are different things.

legal eagle's picture

As if being an American citizen protects you or denotes a privileged class anymore, hell, you can be hunted by a secret panel, deemed too dangerous to live, and killed by an unarmed drone without a trial or even charges being levied against you.  Come to think about it........yes, good government, please, you can have all my fiat, please take it and let me be.

Peak intimidation, peak tyranny, and peak despotism.  The Founding Fathers would never have accepted this!

Cast Iron Skillet's picture

ummm ... how do the unarmed drones you mention actually get you? Just crash into you? Run for your life!! ;-)

Gene8696's picture

Yea, I read something about that.. You're talking Bonnie & Clyde, I mean John Dillinger, oh.. I mean Billy the Kid...??

We have been hunting down and killing our own people for years...

Gene8696's picture

As a matter of fact, there was no FBI chasing Billy the Kid, or any off the pre 1920 outlaws. As for a warrant, most where added to the "Dead or Alive" list by Governors, Territory Boses, or local Sheriffs... Not to mention the possies and linch mobs.

kinganuthin's picture

yes, and those people had warrents out on them.  Evidence submitted to a judge.  FBI lists. Opportunity for turning themselves in. District Attorney building a case..  You know.. all that DUE PROCESS stuff.  Even a "Dead or Alive" poster is a warrent, a notification based on a little thing called EVIDENCE. 
This is a "bad man, cause I say so, so let me be clear, he must die."

 

A Lunatic's picture

It's unfucking believable actually. Where is the outrage?

LawsofPhysics's picture

Exactly.  Perhaps more people would care if more people were holders of the wealth.  Fuck them, let it all burn, only then will compensation return to people who are actually worth a shit.

bsdetector's picture

"[T]he FDIC is COMPLETELY do-able." That is a statement worth exploring and publicizing. How much will it cost the government to backstop the depositors vs. backstopping the bondholders, equity owners and depositors? 

ali-ali-al-qomfri's picture

peak ass reaming.   luvya Popo

Panafrican Funktron Robot's picture

Some key information way down at the bottom of the article:


The CRS says, however, there are two other factors that could cause a dramatic reassessment.

“Depending on the exposure of non-bank financial institutions and exposure through secondary channels, U.S. exposure to Greece and other euro-zone countries could be considerably higher,” the CRS said.

The estimate doesn’t include U.S. bank exposure to European bank portfolios that include assets in the weak member countries. Also, it doesn’t account for euro-zone assets held by money market, pension, and insurance funds.

TheFourthStooge-ing's picture

brown shoots

...don't make it!

http://en.wikipedia.org/wiki/Brown_Shoes_Don't_Make_It

 

edit: fixed the hatemail (html - the crux of the biscuit is the apostrophe)

 

dick cheneys ghost's picture

Peak Lies?.........Peak Oil.........Peak Fiat..........Peak Water..........Peak Protest............