Sunday, March 23, 2008


The Fed, the Bank of England and the European Central Bank are exploring the feasibility of using taxpayers' money to shore up the mortgage-backed securities market, the Financial Times reported on March 22, without saying where it obtained the information. A Fed official denied to Bloomberg News that day that it's in discussions to buy mortgage debt.
Feasibility! That's a good one.

With the good ol' USA not being very solvent in this time frame, and the Bank of England (funny it's not British) looking not so bloody good, it seems beholden to the provident Europeans to pony up.

"But why us?", they whine.

"Because we rule you."


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