It was a dark and stormy night when the Euro Zombie first appeared, and had been that way for some time. The lightening and thunder of emergency bailouts and economic crisis summits seemed to be everywhere. The truth is that things had been circling the European economic drain hole a lot longer than anybody wanted to admit and a sunny forecast was nowhere on the horizon. It seemed like just yesterday that the euro was a happy healthy currency with … Read More »
In a two-year “Drastic Times” program that has mostly been secret until now, U.S. regulators have ordered five of the nation’s largest banks, Bank of America, Goldman Sachs, Citigroup, Morgan Stanley, and JP Morgan, to develop emergency plans to avoid a collapse, specifically without the help of a bailout or other aid from the government. Back in May of 2010, the Federal Reserve and the U.S. Office of the Comptroller of the Currency ordered these five banks to develop of … Read More »
