Spain is not Greece.

Peter and Dan talk with Jeff Hybiak about how the Financial Press has said Spain is much larger than Greece so they can’t fail but, in reality, their problems are much greater. He talks about how the banks in Europe swapped out bad loans as collateral in exchange for loans from the European Central bank and how this was supposed to take care of the bank system. He says Spain’s unemployment has been going up every quarter. They tie this back to what we could be seeing in this Country with us taking bad loans and putting it on the back of the tax payers.

Take a look at Jeff’s blog by clicking here.