dollars worth of bad debt and remember folks it's all legal now the article mentions a professor westerman who says that the e.c.b. is also printing money and that their latest lending has not been quote unquote sterilized and amounts to money creation while it has a vertical banking crash the move is double edged and could intensify the crisis since the bank cannot ensure that extra liquidity stays in the club med block professor westerman sees a moment when all that money all of that extra liquidity currently sitting in the club med region italy and spain and france that it could all come rushing back into germany and they call it the tidal wave of the liquidity quote if everybody tries to get out of crisis states at the same time this will overwhelm target to in principle a speculative attack could occur within a day we are heading towards the multiple equilibria zone in which beliefs of a breakdown of the euro zone are self-fulfilling. don't forget deutsche bank. is the goldman sachs j.p. morgan of the e.c.b. can absorb many many trillions of those junk without breaking a sweat and rem