Fed gave banks billions in secret. Eurozone crisis

Secret Fed loans gave banks $13 billion undisclosed to Congress

The Fed didn’t tell anyone which banks were in trouble so deep they required emergency loans of a combined $1.2 trillion on Dec. 5, 2008, their single neediest day. Bankers didn’t mention that they took tens of billions of dollars at the same time they were assuring investors their firms were healthy.

Goldman urges bet against Euro junk debt

Does the euro-zone need a political and fiscal union? The comments on this poll from The Economist are excellent.

Does Europe need a fiscal union? What could possibly go wrong with a plan by the bankrs to dictate to EU countries what their budgets will be.

Breaking up is hard to do

The financial crisis has exposed cracks in the currency as certain European countries saw their economies spiral downward faster than others. Now UBS economist Paul Donovan takes a provocative look at the pluses and minuses for the world’s second largest reserve currency.