The financial stocks are soaring today on yet another bailout. Europe just bailed out Greece and by doing so, saved the world from yet another global financial crisis. Many will not understand how this was a bank bailout, yet again. Let me explain. If Greece did not get their bailout, they would default.

The U.S. government is about to reach it's $14.3 trillion debt ceiling by the early spring of 2011. Yesterday, the White House Council of Economic Advisers Chairman Austan Goolsbee made a strong case that the debt ceiling would have to be raised or the economy in the United States would be catastrophic and worse than anything we seen in 2008.

The price to taxpayers of the bailouts and financial rescue of 2008 and 2009 continues to fall sharply. In figures to be released later today, the Treasury Department will report that the final net cost of the TARP is expected to be about $50 billion,Yahoo! Finance has learned.