Nothing new here actually...
The Federal Reserve, Now Bailing Out Politicians..
The bank bailouts in 2008 and 2009 were controversial because wealthy bankers seemed like the last people who needed help. Now, the Federal Reserve and other central banks are rescuing one group held in even lower regard than bankers: politicians.
Financial markets cheered recently when the Fed and five other central banks took action to ease a credit crunch in Europe'sfinancial sector. Stocks soared, as investors expressed relief that somebody, finally, seemed able to do something decisive to improve the situation in Europe.
Yet the central bank maneuvers, meant to ease the ability of foreign banks to trade their currencies for dollars, do nothing to address the fundamental debt problem bedeviling Europe. Euro-zone nations such as Greece, Italy and Spain remain overwhelmed with debt, with no agreement in sight on how they can fix their finances and make their economies more competitive. Central banks temporarily easing the strain may even make the required fixes less likely, since it gives politicians wiggle room to stall on reforms needed to rein in profligate spending.
http://www.usnews.com/news/blogs/rick-newman/2011/12/01/the-federal-reserve-now-bailing-out-politicians
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