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Central Banks are soooo Last Century, Jake.

Central banks in what capacity?

As lenders of last resort? That is still needed, in fact this should be now subsumed into a market-maker of last resort function.

As credit regulator/supervisor authorities?

As central clearinghouses for payment and settlement?

By laying out pros and cons we risk inducing people to join the debate, and losing control of a process that only we fully understand. - Alan Greenspan

by Carrie (migeru at eurotrib dot com) on Sun Jun 6th, 2010 at 06:19:15 PM EST
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