Did you see this headline?

US Banks Have $176B Exposure To Weak Euro Countries

That’s a news story from Bloomberg and it discusses the fact that US (Big Banks) have nearly $200 billion dollar exposure to the collapsing economies of the PIIGS (Portugal, Italy, Ireland, Greece and Spain).  I love how they downplay the “it’s only $200 billion” bit.  It’s just one more reason to move your money out of these big banks and into small community banks.  I’ve started the process personally and although time consuming, it is well worth it knowing I’m not dealing with these jokers for much longer.