European banks may need massive bail-out

Till some indicators say otherwise, we could safely drop the “may” from the title of this article. In essence, if bailouts have to have any effect on the crisis, these are the sort of figures we should contemplate. Anything less and we’re shoveling money down a black hole as the deleveraging of several Trillion Dollars vastly overwhelms the pumping of a handful of Trillions.

Please note I am not at all advocating we do this. But our “leaders” seem to be hell bent on trying. Either that or, as I allege in this recent piece,  we’re just making some people whole.

http://www.telegraph.co.uk/finance/financetopics/financialcrisis/4590512/European-banks-may-need-16.3-trillion-bail-out-EC-dcoument-warns.html

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