September 18, 2011

EUROPE’S DEBT CRISIS THREATENS AMERICA. “Last week, the mighty Federal Reserve moved to help European banks that have been having trouble finding people who are willing to lend them money. . . . A crucial mechanism linking financial players in the United States to the problems in Europe involves credit default swaps, those insurance-like products that did so much damage during the 2008 financial crisis.”

Related: Europe’s Troubles Pose Real Threat.

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