Welcome to the new version of European Tribune. It's just a new layout, so everything should work as before - please report bugs here.
Display:
Well, in a properly run central banking system, the CB should act as market maker of last first resort between long and short term funding. So the problem is not, in a properly run central banking system, in the nature of short-term funding (of course in the central banking system we actually have, we are saddled with the ECBuBa...). The problem is in the nature of the geometric effect of leverage upon the solvency of holders of garbage assets.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri Aug 12th, 2011 at 05:58:54 AM EST
[ Parent ]

Others have rated this comment as follows:

Display:

Top Diaries

Brexit: Get on with it already?

by Bernard - Jun 26
39 comments

Spain votes again

by Migeru - Jun 26
61 comments

Defeat from the Jaws of Victory

by rifek - Jun 27
37 comments

Reversing Brexit?

by Frank Schnittger - Jun 25
96 comments

Should I vote for Brexit?

by tyronen - Jun 22
38 comments

Recent Diaries

Occasional Series