say goodbye to the big wall street banks..........from zerohedge........
"What is the take home here? That US exposure is $640 billion or "considerably higher" despite what Morgan Stanley and Geithner are lying? Not at all. The truth is the nobody has any idea how to quantify US exposure to Europe. But it is not only massive, but that all hedges that banks have in place will promptly be rendered worthless when the dominoes, and thus counterparties start falling. So the only conclusion is that anyone who tells you to ignore gross, or that the number is under control, is nothing but a pandering liar. And anyone investing based on such trite promises will guaranteed lose all their money"..........READ MORE
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