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JAN 17, 2013 - Zero Hedge

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The Great Systemic Rig of 2012 is Now Ending

  Europe's banking system has been on the ropes for years. It's a little known fact that  the largest recipients of US bailouts were in fact foreign banks based in Europe. Also bear in mind that the biggest beneficiaries of QE 2 were European banks. Things got so bad in mid-2012 that the whole system lurched towards collapse. The only thing that pulled the EU back from the brink was Mario Draghi's promise of unlimited bond buying (a promise and nothing more as the EU has yet to do any of this). However, these efforts, like all cover?ups, will not last. Indeed, by the ... Read More

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