On Tue, 09 Feb 2010 17:38:43 -0600, F. George McDuffee
wrote:

On Sat, 06 Feb 2010 00:53:27 -0600, F. George McDuffee
wrote:
snip
It appears that the extent of major U.S. [and other] financial
institutional exposure [and thus taxpayer liability] to the Euro
zone sovereign debt problems and/or new bubble collapse through
direct investment, loans to speculators, and CDS/derivative
counter parties is totally unknown, but after a big loss most
gamblers "double down" or even go "all in" in an attempt to
recoup their losses.
snip
========
If anyone is interested, here is yet more information on this
latest financial debacle.

It is worthwhile to remember that while the 1929 stock market
crash in the U.S. was the result of a domestic bubble, the "Great
Depression" occurred roughly 1 year later when the European
economic system imploded, resulting in numerous U.S. bank
failures and a catastrophic contraction in the national/global
money supply leading to global hyper-deflation.

http://www.ft.com/cms/s/0/f90bca10-1...nclick_check=1


Unka George (George McDuffee)
...............................
The past is a foreign country;
they do things differently there.
L. P. Hartley (1895-1972), British author.
The Go-Between, Prologue (1953).