Capital Account - 10/27/11
European leaders reach a deal on the debt crisis and US stocks surge, but US banks may not be off the hook for the Eurozone debt crisis. And could Bank of America actually topple under the pressure? Three years after Bank of America was bailed out and despite help from the Federal Reserve moving money around just recently, could the weight of bad mortgages and sovereign debt could prove too much? According to analyst Reggie Middleton, who accurately forecast the fall of Bear Stearns and Lehman Brothers, B of A is insolvent and worth nothing. Plus, Berlusconi’s babes and Bernie Madoff’s underwear.