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So the solution is to give the ECB more power so it can solve the crisis like the Fed has done.

Wait this is important. Someone is wrong on the Internet.
by generic on Thu Oct 9th, 2008 at 11:04:25 AM EST
[ Parent ]
The European System of Central banks is composed of the ECB and the National Central banks which do have banking regulation and could "control the dispersal of taxpayesrs' money" if that were not the province of the Ministers of Finance...

It's not for lack of institutions and ways to coordinate them that the EU hasn't "solved the crisis like the Fed has done" (LOL!)

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith

by Migeru (migeru at eurotrib dot com) on Thu Oct 9th, 2008 at 11:12:43 AM EST
[ Parent ]
Forgot my snark tags

Wait this is important. Someone is wrong on the Internet.
by generic on Thu Oct 9th, 2008 at 01:07:31 PM EST
[ Parent ]

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