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

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Fri, 10/07/2011 - 15:45 | 1750810 CashCowEquity
CashCowEquity's picture

brown shoots

Fri, 10/07/2011 - 15:50 | 1750839 Cash_is_Trash
Cash_is_Trash's picture

"I would reccomend you panic"

Hugh Hendry, bitchezzzz

Fri, 10/07/2011 - 15:53 | 1750854 Fish Gone Bad
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.

Fri, 10/07/2011 - 15:59 | 1750881 MillionDollarBonus_
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.

Fri, 10/07/2011 - 16:02 | 1750907 legal eagle
legal eagle's picture

YOU MUST HAVE forgot to hit the sarcasm button.  LMFAO

Fri, 10/07/2011 - 16:03 | 1750926 mtomato2
mtomato2's picture

Seriously.  That was a good one, it was!

Fri, 10/07/2011 - 16:05 | 1750932 Ahmeexnal
Ahmeexnal's picture

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

Fri, 10/07/2011 - 16:08 | 1750946 LawsofPhysics
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.

Fri, 10/07/2011 - 17:57 | 1751269 Cynical Sidney
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.

Fri, 10/07/2011 - 16:16 | 1750976 Nascent_Variable
Nascent_Variable's picture

We can reprint it.  Faster.  Inkier.  Worthlessier.

Fri, 10/07/2011 - 16:18 | 1750986 Dr. Richard Head
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.

Fri, 10/07/2011 - 16:30 | 1751034 seek
seek's picture

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

Fri, 10/07/2011 - 16:59 | 1751143 goldfreak
goldfreak's picture

he forgot to hit the moron button

Fri, 10/07/2011 - 16:03 | 1750918 Abitdodgie
Abitdodgie's picture

  MDB You really are fucking clueless

Fri, 10/07/2011 - 16:05 | 1750935 mtomato2
mtomato2's picture

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

 

/sarc

Fri, 10/07/2011 - 17:19 | 1751170 Idiot Savant
Idiot Savant's picture

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

Fri, 10/07/2011 - 16:04 | 1750928 Al Gorerhythm
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.


Fri, 10/07/2011 - 16:33 | 1751049 devo
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.

 

Fri, 10/07/2011 - 16:40 | 1751063 piceridu
piceridu's picture

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

Fri, 10/07/2011 - 16:49 | 1751102 Au_Ag_CuPbCu
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!

Fri, 10/07/2011 - 16:52 | 1751111 marcusfenix
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.

Fri, 10/07/2011 - 17:20 | 1751158 MillionDollarBonus_
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.

Fri, 10/07/2011 - 18:37 | 1751221 Cynical Sidney
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   

Fri, 10/07/2011 - 17:46 | 1751237 Ira Fuse
Ira Fuse's picture

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

Fri, 10/07/2011 - 18:22 | 1751328 Al Gorerhythm
Al Gorerhythm's picture

MDB, you're such a slut.

Fri, 10/07/2011 - 16:56 | 1751128 fonestar
fonestar's picture

MillionDollarBOGUS >than subtle trolling

Fri, 10/07/2011 - 17:14 | 1751174 tmosley
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

Fri, 10/07/2011 - 17:19 | 1751183 Alvaro de Esteban
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

Fri, 10/07/2011 - 19:06 | 1751417 Schmuck Raker
Schmuck Raker's picture

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

So true.

Fri, 10/07/2011 - 17:20 | 1751187 CapitalistRock
CapitalistRock's picture

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

Fri, 10/07/2011 - 17:57 | 1751257 Cynical Sidney
Cynical Sidney's picture

. *moved*

Fri, 10/07/2011 - 18:18 | 1751323 Nobody For President
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...

Fri, 10/07/2011 - 16:00 | 1750887 legal eagle
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.

 

Fri, 10/07/2011 - 15:59 | 1750890 Cheesy Bastard
Cheesy Bastard's picture

Jenga!

Fri, 10/07/2011 - 16:00 | 1750897 SheepDog-One
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!

Fri, 10/07/2011 - 16:03 | 1750915 legal eagle
legal eagle's picture

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

Fri, 10/07/2011 - 16:03 | 1750921 Popo
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.

Fri, 10/07/2011 - 16:11 | 1750951 legal eagle
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!

Fri, 10/07/2011 - 16:22 | 1751004 Cast Iron Skillet
Cast Iron Skillet's picture

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

Fri, 10/07/2011 - 17:10 | 1751165 Gene8696
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...

Fri, 10/07/2011 - 17:45 | 1751230 kinganuthin
kinganuthin's picture

DP

Fri, 10/07/2011 - 17:54 | 1751260 Gene8696
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.

Fri, 10/07/2011 - 17:44 | 1751232 kinganuthin
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."

 

Fri, 10/07/2011 - 17:12 | 1751172 A Lunatic
A Lunatic's picture

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

Fri, 10/07/2011 - 16:10 | 1750957 LawsofPhysics
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.

Fri, 10/07/2011 - 16:20 | 1750994 bsdetector
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? 

Fri, 10/07/2011 - 17:47 | 1751240 ali-ali-al-qomfri
ali-ali-al-qomfri's picture

peak ass reaming.   luvya Popo

Fri, 10/07/2011 - 17:09 | 1751163 Panafrican Funk...
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.

Fri, 10/07/2011 - 18:59 | 1751395 TheFourthStooge-ing
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)

 

Fri, 10/07/2011 - 15:46 | 1750815 dick cheneys ghost
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Peak Lies?.........Peak Oil.........Peak Fiat..........Peak Water..........Peak Protest............

Do NOT follow this link or you will be banned from the site!