Yes, Virginia. The banks really were bailed out. by Steve Randy Waldman

(via Thoma)

Europe will show us what it looks like when the bailouts aren't sufficient. Will the Austrians and less-focused OWS types pay attention?

European banks were bailed out today.

Central Banks Take Joint Action to Ease Debt Crisis by Binyamin Appelbaum

Central banks expand system of ‘swapping’ money to ease credit crunch by Neil Irwin and Michael Birnbaum

Central Banks Aim Bazooka Of Cheap Dollars At European Banks by Yglesias