June 12, 2012
Bankrupt Spain, which cannot afford to borrow from its insolvent banks secures a ?100 billion loan on behalf of the banks, so they can lend Spain back the money to refinance and expand its debt.
The Fast and Furious gun scandal is haunting Attorney General Eric Holder in a big way. He now faces a contempt vote from the U.S. House of Representatives.
North Carolina matters because it is a case study in contradictions. The last Republican governor was elected in 1988, but Republicans controlled the legislature as of 2010. The state went for George W. Bush twice but for Obama - barely - in 2008.
"At the very least, the European crisis will force the Fed to flood the banking system with money to sop up losses by U.S. banks from their dealings across the pond."