Oh by the way, the safest bank in Europe according to the European stress tests was nationalized last yesterday and then 2 more early this morning got nationalized. The cost of Euro Bank recap alone will cost most of Europe a good chunk of its social welfare state. God knows they can't really issue really any more government debt(except for maybe Germany).
Update: Now you can add China moving to Recap their state owned banks today. I mean what a clusterf#*k.
It's a global financial crisis. Some more socialized countries haven't done well and some more right wing countries haven't done well. Some socialist European countries have done fine and their is no indication that they are eliminating their social welfare programs. Where do you get this stuff?
