Several banks in Europe are struggling to remain afloat and are being sustained by emergency measures like unlimited loans from the European Central Bank. The Wall Street Journal recently reported that the Federal Reserve is worried that European banks could start siphoning money from their U.S. operations. So, for example, if Banco Santander of Spain fails... what happens to its U.S. subsidiary, Sovereign Bank?
- Jesse Eisinger, reporter for ProPublica
This segment aired on August 23, 2011.