Examining The Market Decline -- China Craters 5%, Europe In Disarray Over ECB Funding FAIL, Dow Down 3% (LINKS)

Jun 29, 2010 at 2:48 PM
DailyBail in ecb, europe, links, stock market, stock markets, video

Video:  Greatest bankrupt/bailout clip ever -- Clarke & Dawe

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Bankrupt governments bailing out other bankrupt governments bailing out bankrupt banks.  Definitely a winning formula.  Borrow, print, extend, pretend, spend and pray.  And the prayer part isn't working out so well.

Here's what's going on:

• Chinese markets got hammered overnight thanks to the Conference Board

• Spanish banks rage at end of ECB offer

• Roubini wrote in the FT that Greece should just hurry up and default

• ECB faces massive liquidity challenge

• And the ECB had a FAILED debt auction this morning

• Consumer Confidence collapsed in June -- well below expectations

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Europe is down 2-3%, as are the Dow, Naz and S&P 500.

• Real-time Market Data

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• If Wall Street reform passes

• Volcker Rule could take until 2022 before implemented
  

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Plus there's this gem:

• Wells Fargo, Wachovia help fund Mexican Drug Gangs

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Finally, the antidote:

• A dog who does windows

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Article originally appeared on The Daily Bail (http://dailybail.com/).