US Dollar will strengthen and bring down the market. It has no place to go but up. Greece will not be able to pull out of this and considerable EURO bank losses will continue. GS can't pump this one and neither can the Treasury. We are weeks ago from a collapse in global markets. "Globalization" at its best. ___________________________________________________________________ The ECB said Friday that it expected banks in the euro zone to see much higher losses than it had previously thought, mainly from their exposure to Eastern Europe and commercial real estate.
...Greece wouldn't get a bailout was matched by a prediction that Greece would be able to avoid insolvency and won't require outside help. "Our baseline scenario is that the Greek government will be able to fulfill its promises," he said.
Dec. 21 (Bloomberg) -- Dubai World, which is seeking to restructure about $22 billion of debt, may be unable to present a “standstill” offer to lenders today as the terms of government support for the state-owned holding company have yet to be agreed, two bankers involved in the talks said.