Why Should We Care about Greece? Hear from Professor A. Rauterkus

The unknown answer depends on an unknown question: How deeply involved is the United States?

Andreas Rauterkus, Ph.D., a banking expert with the UAB School of Business, says “US banks and the Federal Reserve were suspiciously quiet when asked about the exposure of U.S. financial institutions. Some guess it could be anywhere between $5 billion and $80 billion. Talk on Wall Street indicates that U.S. financial institutions might be holding a large number of Credit Default Swaps that would have to be paid in case of a default, effectively creating a second AIG situation."

full article on UAB News Blog- Why should we care about Greece?

Thursday, June 30, 2011