There have not been many developments today.
Greece has not crashed. The depositors have emptied the banks.
Spain has read the deal they received and is not happy.
Italy is not talking nor is France.
The bank trot dominates the continent.
LIBOR is holding London in thrall while Olympic rumblings distract the reporters. Lawyers can smell tort. LIBORtort? Mitt schlag.
The Federal Reserve is anticipating disaster. The Republican house is newly hirsute. No financial structure is safe.
Campaigning on moral hazard is natural to Republicans.
China may start the avalanche. They are signaling distress.
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