What will the European crisis mean for the US? It looks like Italy and Spain are going the way of Greece, which is essentially bankrupt. I doubt the Germans will be able to bail out the whole continent. Personally I think the Euro is toast, and the union teetering.
But I suspect many US banks hold sovereign paper. Given the hits they took on mortgage backed securities, can they survive another hit to their assets?
But I suspect many US banks hold sovereign paper. Given the hits they took on mortgage backed securities, can they survive another hit to their assets?