Spanish Bad Loans: "equivalent to roughly $2.7 trillion in US bank loans going sour"

http://www.zerohedge.com/news/2012-10-18/chart-day-spanish-bad-loans-hit-new-parabolic-record

Last month...Spanish bad loans jumped by the most ever, rising by over 1% to just under 10%.  Today, last month's number was revised even higher to 10.1%.  But the worst news is that the August bad loan total just hit a fresh record of €178.6 billion, or 10.5% of the total €1,698.7 billion in bank loans.  Making things worse is that the primary bank funding lifeline - deposits - continues to flow out.  ...Indicatively, as a % of GDP, this would be equivalent to roughly $2.7 trillion in US bank loans going sour...  

Tyler