A nice graphic in the NYTimes on who stands to loose from defaults in European debt. Its no longer surprising that much of the (ECB) bailout is about preventing losses for banks. What perhaps is surprising -- 3 weeks after Le TARP, is how little $1Trillion buys you any more. US (and global) markets got a big bounce from the US TARP; every successive bailout from around the globe will have much less impact.
No comments:
Post a Comment