Europe bailout of Spain could cost $125 billion

Richard Suttmeier submits: Community and Regional Banks face continued stress of bad consumer and real estate loans. Taxpayers face unlimited costs from Fannie (FNM) and Freddie (FRE), while lending standards tighten. The message from the daily charts for yields, gold, crude oil and the dollar.

MADRID (Reuters) - Spain has set a 90-billion-euro ($118 billion) limit for the size of a bad bank created to take over other financial entities' toxic real estate assets, a necessary step to obtain European funding for the sector. Spain is preparing to receive the first funds from a 100-billion-euro credit line for its banks agreed with Europe in June, paving the way for a fuller bailout that will likely dominate talks at a European Union summit starting on Thursday. ...

Finance ministers from the 17 countries that use the euro say they are ready to give Spain up to €100 billion ($125 billion) in a bailout to help save its ailing banking sector.

  One of the primary focal points of our writing is the corruption that has become endemic to the political and financial elites of the world. When we refer to corruption we are referring to insider deals, cronyism, lies and fraud. Since the Great Crisis began in 2008, these have become the four pillars of the financial system replacing the pillars of trust, transparency, truth and reality that are the true foundation of capitalism and wealth generation.