Another minimalist "do something" move, with three dissents -- against "significant" risks.

Recession creeps closer -- but absent a systemic hard-stop, stocks are amazingly cheap.

The stench of systemic risk from Europe drives stocks to generational value levels.

The stench of systemic risk from Europe drives stocks to generational value levels

Massive QE for the UK, and continued growth-killing rates for the Euro area.

An upside headline surprise -- still weak, but encouraging when you look deeper inside.

Dexia's failure clarifies Europe's mind on banks -- now we wait for Slovakia's EFSF vote.

A resolution to the Greek crisis is a key coming catalyst, but Europe's woes will remain.

Either Europe blows up, or not. When it doesn't, we'll learn how much damage we've taken.

Europe fired blanks at the weekend's summit. One more chance for a real shootout.