European Union goes Full Monty...would you like the trillion in small bills? U.S. Equity futures setting up for the short squeeze of the century

The European Union has surpassed Bernanke, Paulson and Geithner. They have implemented the Full Monty!

Bloomberg:
By James G. Neuger and Meera Louis
May 10 (Bloomberg) -- European policy makers unveiled an unprecedented loan package worth nearly $1 trillion and a program of securities purchases as they spearheaded a drive to stop a sovereign-debt crisis that threatened to shatter confidence in the euro. Jolted into action by last week’s slide in the currency to a 14-month low and soaring bond yields in Portugal and Spain, governments of the 16 euro nations agreed to make loans of as much as 750 billion euros ($962 billion) available to countries under attack from speculators.

The ECB will also embark on “very significant operations,” European Union Economic and Monetary Commissioner Olli Rehn told reporters in Brussels after the 14-hour meeting. “The ECB has taken a decision to intervene in the secondary markets of government securities.”

Under pressure from the U.S. and Asia to stabilize markets, the European governments gambled that the show of financial force would prevent a sovereign-debt crisis and muffle speculation that the 11-year-old euro might break apart.

Raf Casert and Elena Becatoros, Associated Press Writer, On Sunday May 9, 2010, 10:10 pm
BRUSSELS (AP) -- The European Union and the International Monetary Fund pledged a massive nearly $1 trillion defense package for the embattled euro Monday, hoping to finally turn back relentless attacks on the eurozone's weakest members and allow the continent to resume its hesitant economic recovery.

Under the three-year aid plan, the EU Commission will make euro60 billion ($75 billion) available while countries from the 16-nation eurozone would promise bilateral backing for euro440 billion ($570 billion). The IMF would contribute an additional sum of at least half of the EU's total contribution, or euro250 billion, Spanish Finance Minister Elena Salgado said.

"We shall defend the euro whatever it takes," EU Commissioner Olli Rehn said after an 11 hour-meeting of EU finance ministers. The meeting capped a hectic week of chaotic sparring between panicked European governments and aggressive markets.
Link to complete AP Article

Standard and Poor's 500 futures at 9:38 pm CDT UP 28+. Not only are the robots back, they are setting up Monday for the short squeeze of the century. Naturally, a violent move up is sanctioned by the SEC and congress especially with mid-term elections less than 6 months away. Notice how no one blames a "fat finger" trader for a rocket launch...

Let's not forget the other important headlines in the United States, because we are the United States and this is important stuff to the Housewives of NJ and the American Idol Country. Who really wants to be bothered with bailouts and printing money, let's read about the really important stuff!!!

Iron Man 2' takes in hefty $133.6 million on opening weekend

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'Real Housewives' Star Bethenny Frankel Gives Birth

'Iron Man 2' rockets to No. 1

This is what America cares about...that international

finance stuff is simply too confusing...