Monday, September 19, 2011

Suburban Dad Survivalist Daily Briefing, September 19

S&P downgrades Italy's debt - no surprise here.  The financial cognoscenti debate to what extent U.S. banks have exposure to Italian government debt.  Suffice it to say Italy's problems will not help our economy. 

Greek default could cause U.S. recession - as CNBC reports, the U.S. banking system has significant exposure to European banks.  This bears watching.

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