Last night I watched a film called Too big to fail. This was an eyeopener. According to this film, back in 2008, the world was within a few days of a complete financial meltdown. If the Fed had not stepped in and propped up AIG at the time, there would have been many big banks around the world under water, and that's when things get ugly because the depositors all want their money back at the same time, which can't happen.
I don't think the Euro crisis will reach this point, but it does make me a little nervous.
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