Major indexes are down over 5% with some big banks down 7-8%.
Greek 1 and 2 year bonds are trading over 50% on yield. That’s not a yield, it’s an implied recovery on a default which the market now says is inevitable.
The fraud has finally caught up with the scammers and taking on more and more debt cover up unpayable debt.
This deceit was allowed and encouraged by pliant, captured regulatory agencies in the EU and here. The Bernanke’s of the world are just as guilty and complicit as the banksters. Maybe worse, because they stood by and did nothing to stop the pretend-and-extend fraud.