The GFC was due to the US sub-prime mortgage crisis. The current crisis is due to the European debt crisis. The European debt crisis was exacerbated by the sub-prime mortgage crisis but not caused by it. The problems in the US are trivial compared to the European debt problem. Now Europe wants the west to deposit half a trillion in its banks because its depositors have bailed out and they now have an imminent liquidity crisis on top of everything else. What a joke.
