Quote:
Originally Posted by Pastiche
I don't really get what you're trying to say here. First off, buying worthless pieces of paper is exactly what the banks don't want to do. Creating demand for these bands will drive up their value. In essence they are pursuing a policy to ensure that these bonds don't become valueless. And it's hardly appropriate to say that governments can keep on their current practices. Have you read a single article about Greece lately and their strict austerity measures to qualify for these loans? Kind of weird selective reasoning.
Well this is also somewhat disingenuous. These private banks have been pressured by public office to buy euro debt. Many banks would not be nearly as exposed if it weren't for public policy to support inter-government lending to prop up the Euro. Say what you will of that policy but this isn't really a bailout of private banks. Private banks will suffer alot of pain but you know who will suffer more? Regular European people like you and me if contagion caught. That's the reason for this loan program. And you know what, in the U.S. this policy has so-far worked!
http://www.newyorker.com/reporting/2...a_fact_cassidy |
Well there you go bringing facts and actual analysis into the conversation
