Think the Economy's Bad? 'You Haven't Seen Anything'
Published: Monday, 3 Oct 2011 | 1:00 PM ET
By: Jeff Cox
CNBC.com Senior Writer http://www.cnbc.com/id/44757716
"The various schemes for the European Financial Stability Facility are little more than a shell game to kick the debt can further down the road," Charles Biderman, CEO at the TrimTabs research firm, wrote. "How will shuffling the crappy debt of broke countries from broke banks into a leveraged 'special purpose vehicle' ultimately backed by the taxpayers of broke and nearly broke countries solve anything in the longer term?
"All it may do is postpone the reckoning and ensure an even bigger bust later."