Europe’s $2 Trillion of Distressed Debt Set to Outstrip U.S.

[Marcus Bryant]

http://www.bloomberg.com/news/2011-04-08/europe-s-2-trillion-of-distressed-debt-to-outstrip-u-s-market-svp-says.html

[Winehole23]

Europe came to terms politically with austerity more quickly than us and is unwinding its bad debt; here, we pretending distressed assets are either worth more than they really off or are slow-rolling the write-offs.

There's a huge shadow inventory of bad mortgages and financial dreck we haven't even begun to come to terms with yet. Europe is way ahead on this count. Good on them, bad on us.

[boutons_deux]

Why the Mortgage Crisis Dwarfs Almost Everything

http://www.huffingtonpost.com/rj-eskow/by-the-time-you-read-this_b_842902.html?view=print