so if that money is not repaid, then, of course, the prospect is that you make it all the more difficult for u.s. banks to function in terms of lending here at home for our citizens. the largers prospect is global economic crisis, lack of confidence that would sink wall street and possibly have a negative or delltary effect on terms of the economic recovery that we re trying to mount. this is not just greece. you can talk about portugal and spain. you talk about a euro zone implosion. if that happens the world is back to a deep recession. bret: charles, how do we get to where the euro goes under. does it happen overnight? can we see it? are there warning signs to stop before it gets to that point? this happens overnight. a tipover effect.
point? this happens overnight. a tipover effect. everybody has seen this coming. the greeks have been insolvent for years. harry reid saying it happens for years. when it happens it s like the lehman brothers where it s relatively small but it sets off a panic. that is what happens to the history of economic panics to which i m happy to contribute to here. when you get a spokesman reacting to question about a crisis and the answer we re in constant communication of the allies, that s not reassuring. we re saying we have no idea what the heck to do. that is why the government is trying to keep it afloat. our banks would be involved in domino effect.