Big Trouble for U.S.? Europe's Banking Crisis Moves Closer to a Lehman Brothers Moment | Economy | AlterNet
"But why does that matter to you? Well, recall for an instance what happened to the global economy when Lehman Brothers went bust in 2008. The world’s entire credit system froze up. Now consider the implications for the U.S. if the currency union in the world’s largest economic bloc was to blow apart. Do you think the fallout might wind up in your backyard? Economist Simon Johnson recently gave a warning on the impact on U.S. banks in the event of a dissolution of the euro:"
