The big story out of Europe today is not about Greece or Portugal or Italy or any of the PIIGS states. It’s about French banks. To be sure, Greece remains on the brink of default, and European leaders are desperate to manage that. But understand that financing the Greek bailout has everything to do with [...]

I guess news outlets are still pushing the line that the S&P debt downgrade is what has driven the stock market volatility over the past week or so. They have to neglect that the market was falling before the downgrade to come up with this rationale, but no matter, I guess. In planet reality, there [...]