John Ward – 3rd Greek Baillout : Slog Prediction Vindicated in MSM – 19 June 2012

‘Debt crisis: Greek government will be forced to seek third bail-out’ (Daily Telegraph, 19.6.12)

‘Forget the Greek election for a while, and focus instead on what will be a far more significant event: full Greek default, bailout or not, unless more bailout monies are poured in, and pretty damn quick. Both Berlin and Washington know for sure this is coming.’ (The Slog, 17.6.12)

Plummeting tax receipts, crashing export sales and falling tourism figures mean the Hellenic Republic is already miles behind the commitments it has already made to the Troika. Add this to the spiralling Spanish tornado, and Italy yields spiking above 6%….

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Mish/ Mike Shedlock – An “Emperor Has No Clothes” Moment: ESM Has Failed Already – 12 June 2012

In what may become a historic “Emperor Has No Clothes” moment, the euro, stocks, oil, and European government bonds all quickly reversed course following initial euphoria of a Spanish bank bailout that is sure to do more harm than good.

For details of the bailout please see Rajoy Proclaims “Victory”, Says It’s Not a Bailout “It’s a Credit Line”; Existing Bondholders Subordinated

Tyler Durden – Zero Hedge – Here They Come: Ireland Demands Renegotiation Of Its Bailout Terms To Match Spain – 11 June 2012

Well that didn’t take long. The ink on the #Spailout is not dry yet (well technically there is no ink, because none of the actual details of the Spanish banking system rescue are even remotely known, and likely won’t be because when it comes to answering where the money comes from there simply is no answer) and we already have an answer to one of our questions.

Mish/ Mike Shedlock – Bailout Lite? There’s Really No Such Thing; €30 Billion Needed? It’s Now €100 Billion; Contagion Of Economic Idiocy – 9 June 2012

A few days ago Spain was purportedly going to need another €30 billion to €70 billion to recapitalize Spanish banks. I suggested the amount would be at least triple that and it did not take long to do so.

Tracking the Fed’s $1.2 trillion Wall Street bailout

Tracking the Fed’s $1.2 trillion Wall Street bailout.

further accountability  via DailyKos.com by Joan McCarter