Can America Become The Next Greece?

NetNet February 24, 2012

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We don't need no stinking dividends. var cnbcSubHeaderId = document.getElementById('subheader_'+ 38911124); cnbcSubHeaderId.innerHTML = document.getElementById('renderReaderContent').innerHTML; Current DateTime: 10:09:11 23 Feb 2012LinksList Documentid: 45166246The Buckaroo and the Demand for Money cnbc_commentCountMapObj.cnbc_commentCountMap_put("46314208", "45166246_1","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46314208", "45166246_1","cnbcCommentsTxt" ); College Flunks Four Times; Eliminates Tuition cnbc_commentCountMapObj.cnbc_commentCountMap_put("46310825", "45166246_2","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46310825", "45166246_2","cnbcCommentsTxt" ); ECB May Be Willing to Take a Haircut on Greek Bonds cnbc_commentCountMapObj.cnbc_commentCountMap_put("46312568", "45166246_3","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46312568", "45166246_3","cnbcCommentsTxt" ); College Flunks Four Times; Eliminates Tuition cnbc_commentCountMapObj.cnbc_commentCountMap_put("46310825", "45166246_4","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46310825", "45166246_4","cnbcCommentsTxt" ); New York Housing Market Could Still Collapse: Analyst cnbc_commentCountMapObj.cnbc_commentCountMap_put("46310822", "45166246_5","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46310822", "45166246_5","cnbcCommentsTxt" ); Ouch! UBS's Bonus Pool Got Whacked cnbc_commentCountMapObj.cnbc_commentCountMap_put("46297166", "45166246_6","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46297166", "45166246_6","cnbcCommentsTxt" ); Banks Already Slipping Through New Capital Requirements cnbc_commentCountMapObj.cnbc_commentCountMap_put("46281847", "45166246_7","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46281847", "45166246_7","cnbcCommentsTxt" ); Greek Default: Why Now May Be Best Time to Do It cnbc_commentCountMapObj.cnbc_commentCountMap_put("46281928", "45166246_8","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46281928", "45166246_8","cnbcCommentsTxt" ); What Germans Really Think About the Greeks cnbc_commentCountMapObj.cnbc_commentCountMap_put("45957341", "45166246_9","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("45957341", "45166246_9","cnbcCommentsTxt" ); Why the Social Security Tax Fight Is Stupid cnbc_commentCountMapObj.cnbc_commentCountMap_put("45668349", "45166246_10","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("45668349", "45166246_10","cnbcCommentsTxt" ); if (cnbc_DARTFlag=="new") { cnbc_DARTAdCall(300,900,"CNBGE3"); } else { dapMgr.enableACB("USNewsBlogs300x250",false); dapMgr.renderAd("USNewsBlogs300x250","&PG=CNBGE3&AP=&PN=CNBC",300,900); } Current DateTime: 12:31:09 24 Feb 2012LinksList Documentid: 38910464Expiration DateTime: 2/24/2012 12:33:44 AM cnbc_commentCountMapObj.cnbc_commentCountMap_put("", "38910464_1","cnbcCommentsTxt" ); Can America Become the Next Greece? cnbc_commentCountMapObj.cnbc_commentCountMap_put("46499336", "38910464_1","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46499336", "38910464_1","cnbcCommentsTxt" ); Is the Smart Money Heading for the Sidelines? cnbc_commentCountMapObj.cnbc_commentCountMap_put("46499591", "38910464_2","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46499591", "38910464_2","cnbcCommentsTxt" ); Regulatory Capture: Federal Reserve Edition cnbc_commentCountMapObj.cnbc_commentCountMap_put("46497947", "38910464_3","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46497947", "38910464_3","cnbcCommentsTxt" ); Stuff We Missed: Wednesday, February 22 cnbc_commentCountMapObj.cnbc_commentCountMap_put("46486820", "38910464_4","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46486820", "38910464_4","cnbcCommentsTxt" ); Chart of the Day: Europe and U.S. Decoupling cnbc_commentCountMapObj.cnbc_commentCountMap_put("46484833", "38910464_5","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46484833", "38910464_5","cnbcCommentsTxt" ); Will Greek Credit Default Swaps Fall Short? cnbc_commentCountMapObj.cnbc_commentCountMap_put("46386655", "38910464_6","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46386655", "38910464_6","cnbcCommentsTxt" ); Kevin Book: Beware the Downside Potential In Oil Prices cnbc_commentCountMapObj.cnbc_commentCountMap_put("46481405", "38910464_7","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46481405", "38910464_7","cnbcCommentsTxt" ); Stuff We Missed: Tuesday, February 21st cnbc_commentCountMapObj.cnbc_commentCountMap_put("46468172", "38910464_8","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46468172", "38910464_8","cnbcCommentsTxt" ); Modern Monetary Theory's Big Weekend: The Problem with Surpluses cnbc_commentCountMapObj.cnbc_commentCountMap_put("46468147", "38910464_9","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46468147", "38910464_9","cnbcCommentsTxt" ); "?Greece Fatigue': Market Hopes Bailout Plan Will Work cnbc_commentCountMapObj.cnbc_commentCountMap_put("46467892", "38910464_10","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46467892", "38910464_10","cnbcCommentsTxt" ); Sallie Krawcheck: The Euro Is "Fundamentally Flawed" cnbc_commentCountMapObj.cnbc_commentCountMap_put("46465897", "38910464_11","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46465897", "38910464_11","cnbcCommentsTxt" ); Compensation Clawbacks: Bad for Banks, Bad for Shareholders cnbc_commentCountMapObj.cnbc_commentCountMap_put("46467172", "38910464_12","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46467172", "38910464_12","cnbcCommentsTxt" ); Get Ready for Gas Prices to Hit $5 by Summer cnbc_commentCountMapObj.cnbc_commentCountMap_put("46465821", "38910464_13","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46465821", "38910464_13","cnbcCommentsTxt" ); Playing the Banker/Lawyer Game at Stone Rose Lounge cnbc_commentCountMapObj.cnbc_commentCountMap_put("46432982", "38910464_14","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46432982", "38910464_14","cnbcCommentsTxt" ); Memo From the Big Board: Monday Is Not President's Day cnbc_commentCountMapObj.cnbc_commentCountMap_put("46431836", "38910464_15","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46431836", "38910464_15","cnbcCommentsTxt" ); Government Critic John Kinnucan Arrested for Insider Trading cnbc_commentCountMapObj.cnbc_commentCountMap_put("46429425", "38910464_16","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46429425", "38910464_16","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("", "38910464_1","cnbcCommentsTxt" ); Email: document.write("");document.write("NetNet"+"@"+"cnbc.com");document.write('');Call: 201-735-4638Text Message: 917-740-8477 Current DateTime: 10:09:11 23 Feb 2012LinksList Documentid: 39085620FacebookTwitterRSSCurrent DateTime: 10:09:11 23 Feb 2012LinksList Documentid: 38852222John Carney

Runs this joint.

Jeff Cox

A senior writer for CNBC.com, covering the gamut of issues affecting the stock market and the economy.

Stephanie Landsman

Squawk Boxer Rebel.

Lori Spechler

A Senior Editor at CNBC, commodity trader in a former life.

Lori Ann LaRocco

A Senior Talent Producer at CNBC.

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Current DateTime: 12:31:09 24 Feb 2012LinksList Documentid: 38910635Expiration DateTime: 2/24/2012 12:33:35 AM cnbc_commentCountMapObj.cnbc_commentCountMap_put("", "38910635_1","cnbcCommentsTxt" ); Lloyds Makes $5.5 Billion Loss, Gives Gloomy Outlook cnbc_commentCountMapObj.cnbc_commentCountMap_put("46508834", "38910635_1","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46508834", "38910635_1","cnbcCommentsTxt" ); No Risk to Inflation; No Floor Under 1% Rate: ECB Official cnbc_commentCountMapObj.cnbc_commentCountMap_put("46499877", "38910635_2","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46499877", "38910635_2","cnbcCommentsTxt" ); Athens Told to Change Spending and Taxes cnbc_commentCountMapObj.cnbc_commentCountMap_put("46460606", "38910635_3","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46460606", "38910635_3","cnbcCommentsTxt" ); Chinese Firm Sues Apple Over iPad Name in US cnbc_commentCountMapObj.cnbc_commentCountMap_put("46506243", "38910635_4","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46506243", "38910635_4","cnbcCommentsTxt" ); Will the Third Time Be the Charm for Dow 13,000? cnbc_commentCountMapObj.cnbc_commentCountMap_put("46503790", "38910635_5","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46503790", "38910635_5","cnbcCommentsTxt" ); How Do We Wean Banks off ECB's Liquidity? cnbc_commentCountMapObj.cnbc_commentCountMap_put("15840232?video=3000074838&play=1", "38910635_6","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("15840232?video=3000074838&play=1", "38910635_6","cnbcCommentsTxt" ); Jobless Claims"”a Good Sign or a Weather Fluke? cnbc_commentCountMapObj.cnbc_commentCountMap_put("46500357", "38910635_7","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46500357", "38910635_7","cnbcCommentsTxt" ); ECB's Draghi Says Euro Zone Recovering Slowly cnbc_commentCountMapObj.cnbc_commentCountMap_put("46508622", "38910635_8","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46508622", "38910635_8","cnbcCommentsTxt" ); London Fashion Week Autumn/Winter 2012 cnbc_commentCountMapObj.cnbc_commentCountMap_put("46484384", "38910635_9","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46484384", "38910635_9","cnbcCommentsTxt" ); Run on European Banks Still Possible: Economist cnbc_commentCountMapObj.cnbc_commentCountMap_put("46497800", "38910635_10","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46497800", "38910635_10","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("", "38910635_1","cnbcCommentsTxt" ); » HelpCurrent DateTime: 10:09:11 23 Feb 2012LinksList Documentid: 38851925Subscribe to this RSS feed

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setDefault('cnbc_textbody');Can America Become the Next Greece? Published: Thursday, 23 Feb 2012 | 2:36 PM ET Text Size By: John CarneySenior Editor, CNBC.com #divButtons .gig-button-container-facebook-like {margin-right:-2px;} #divButtons .gig-button-container-twitter {margin-right:15px;} #divButtons .gig-button-container-google-plusone {margin-right:-16px;} #divButtons .gig-button-container-linkedin {margin-right:17px;} var params ={ userAction:ua, shareButtons: [{provider:'facebook-like',action:'recommend'},{provider:'twitter'},{provider:'google-plusone'},{provider:'linkedin'},{provider:'share',enableCount:false}], containerID: 'divButtons'} if (navigator.userAgent.indexOf("MSIE 6") cnbc_init_droparrows('menu_arrow_','img',cur_navSect); cnbc_getCommentsCount(cnbc_commentCountStr) ; Current DateTime: 10:08:01 23 Feb 2012LinksList Documentid: 29778429CNBC NEWSU.S. NewsAsia-Pacific NewsEurope NewsEconomyEnergyGreenTechnologyBlogsWiresSlideshowsSpecial ReportsCorrections Current DateTime: 10:08:01 23 Feb 2012LinksList Documentid: 29778428MARKETSPre-MarketsWorld MarketsStocksDow 30CommoditiesCurrenciesBondsFunds Current DateTime: 10:08:01 23 Feb 2012LinksList Documentid: 29779196EARNINGSNewsCalendarSurprisesHighlightsIdeas Current DateTime: 10:08:01 23 Feb 2012LinksList Documentid: 29779197INVESTINGStock BlogPersonal FinancePortfolio (Beta)WatchlistStock ScreenerFund ScreenerEarnings Screener Current DateTime: 10:08:01 23 Feb 2012LinksList Documentid: 29779200VIDEOLatest VideoTop VideoU.S. VideoAsia-Pacific VideoEurope VideoCEO InterviewsAnalyst InterviewsCNBC ProCurrent DateTime: 12:17:51 24 Feb 2012LinksList Documentid: 29779199CNBC TVCNBC U.S.CNBC Asia-PacificCNBC EuropeCNBC WorldCNBC HD+Channel FinderCurrent DateTime: 10:08:01 23 Feb 2012LinksList Documentid: 29779198MORESmall BusinessCNBC 360CNBC Mobile WebsiteRSSReal-Time Quotes and Extended HoursLatest Press ReleasesAbout CNBC | Site Map | Video Reprints | Advertise | Help | ContactPrivacy Policy | div.FOOTMC_BI {padding: 5px 10px 5px 10px; text-align:left; line-height:25px;} a#_bapw-link span {margin: 0 0 0 5px !important;} | Terms of Service | Independent Programming Report Data is a real-time snapshot *Data is delayed at least 15 minutesGlobal Business and Financial News, Stock Quotes, and Market Data and Analysis© 2012 CNBC LLC. All Rights Reserved. var scodePath = cnbc_tickerDataPath + "/js/s_code.js"; s_linkInternalFilters="javascript:,cnbc.com"; var s_account="nbcuglobal, nbcucnbcd, nbcucnbcbu"; var s_prop8 ="cnbc"; var s_prop9 ="cnbc.com"; var s_prop10=cnbc_sectionName; var s_prop31=cnbc_topSection; var s_prop32=cnbc_subSection; var s_prop33=cnbc_subSubSection; var s_prop34=cnbc_microSection; var s_prop35=cnbc_nanoSection; var s_prop36=cnbc_docid; var s_prop37=cnbc_doctype; var s_prop38=cnbc_doclayout; var s_prop39=cnbc_docsource; document.write(''); try { cnbc_init_services(); cnbc_highlightSubText(cnbc_docid,"sub_active"); } catch(e){} cnbcSwitchOnRemember("cnbcStreamQuoteMasterToggleRememberSwitch"); setTimeout("cnbc_comboQuoteMoveRun()",10); if (cnbc_DARTFlag=="new") { cnbc_DARTAdCall(1,1,"CNBNE0"); } else { dapMgr.enableACB("news1x1",false); dapMgr.renderAd("news1x1","&PG=CNBNE0&AP=&PN=CNBC",1,1); }

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