Ron Ensigna News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Harder to answer questions like this. there were rumors going around about the potential insolvency of one or more french banks who own a lot of debt of europe's periphery, greece, spain, italy ireland or portugal. there's that concern. a lot of these frnch banks bought a lot of our toxic assets earlier in the decade. i suspect they haven't marked those down fully either. all the rumors are denied. it led to this sell off this morning that should have been greeted with some follow through after the big rally yesterday on word that the fed is going to hold rates low for at least two more years....

Mistake. we did raise extraordinary amount of capital for the u.s. banks. they were well capitalized. there have been some concerns that bank of america may need to raise additional capital that's been a big drag. although the company's ceo has denied that. i think that we are in a much better position than the european banks. we don't have that much direct or indirect exposure to europea. it's not an inkrshl amount. it's not enough to tom the system. people worry about contagion. it should if we see further deterioration in europe or a collapse there. it would be inescapable to not have some ...

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>> ron insana, the fed may not have many more tools but they're the only game in town. >> i think people misperceived that fact. the fed basically has no stamp your, theoretical or practical limits on how big the balance sheet can get. most people don't i think read enough fed literature in the general population, why would you, the fed can in a desperate move would guy real goods and services in the economy i have been told by people who know just how the fed works and should we face a 1930s style scenario there is more the fed can do. >> sure, there is. >> there are theoretical limits, but m...