From Zero Hedge:

CNN picks up on a theme that Zero Hedge started several weeks back in analyzing the guarantees that the U.S. government has established to make sure the economy does not collapse.

The net result according to Turner's organization: $10.5 Trillion out of the entire $14 Trillion U.S. economy (this number is likely smaller now) is backstopped by the United States itself.

Assuming the trading wheels come off and assets are priced without governmental guarantees, it could get ugly...

Read full article...

More posts about the government's stupidity:

University professor gives Obama an "F" for botched bailout

Gov't wants power to seize all financial firms

Jim Rogers slams Washington: "They're making it worse"