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Fast Money

Europe Enabling Dysfunction in Congress

It seems the only thing anyone can talk about on Wall Street is the Super Committee and the imminent deadline.

And as of Monday night, the Super Committee said it didn't reach an agreement - on anything!

According to Larry McDonald of Newedge and author of “A Colossal Failure Of Common Sense” Europe is a big piece of the problem.

Huh?

Because of the woes in Europe there’s a flight to quality in the market and as a result yields on Treasurys are low.

”We can borrow money at cheap rates so there’s no urgency to get anything done,” he says. In other words lawmakers are able to kick the proverbial can down the road. And so they did.

Check out our entire conversation with McDonald. Watch the video now!

VIDEO0:0000:00
Super Committee Fails to Reach Deal





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Trader disclosure: On Nov 21, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Seymour is long AAPL; Seymour is long BAC; Adami owns C; Adami owns GS; Adami owns INTC; Adami owns AGU; Adami owns NUE; Adami owns MSFT; Adami owns BTU; Kelly is long AAPL; Kelly is long GOOG; Kelly is long GLD; Kelly is long IBM; Kelly is long STD; Kelly is long CLF; Kelly is short Yen; Kelly is short Mexican Peso; Nations is long SPY; Nations is long call spreads AMZN; Nations is long S&P volatility

For Anthony Scaramucci

Anthony Scaramucci is one of 8 national finance chairs for Mitt Romney campaign
SkyBridge Capital Is A Fund Of Funds Manager
Scaramucci held a fundraiser for Mitt Romney ; Scaramucci contributed to the Romney campaign

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