Ryan warns of financial collapse over debt, urges Congress to avert ‘moral failure’ [1]
Cypriot bank customers get fleeced: Europe Announces Stunning Bailout For Cyprus — Bank Depositors To Get Instant 10% Tax Before Banks Reopen This Week [2]. (Beware, this could happen in other countries–even our own! Thanks to Andre D. and the other readers that sent this link.)
And, inevitably, we read: Cash machines emptied across Cyprus after savers learn 10 billion euro bailout agreement includes levy on all bank accounts [3]. (Thanks to Tim R. for the link.)
Items from The Economatrix:
Housing Foreclosures Start To “Flare Up” Again [4]
Private Equity Crash Could Trigger Next Wave Of Financial Crisis, Bank Warns [5]
China Just Sounded The Warning Bell For What’s Coming Our Way [6]