Stacy Summary: I always love it how over the past two years, markets grow euphoric on any state intervention in the market. Probably a good time to offload some euros in the next few days . . . (btw, if you have lots of euros, I would buy German assets for when the euro currency dissolves; you might want to be converted back into Deutsche mark rather than franc, drachma, peso or lira).
- European bailout plan: €440 billion from Eurozone countries; €250 billion from IMF; €60 billion from EU budget
- Fed opens line of credit to Europe, guess we know where they are borrowing that nearly $1 trillion from . . .