Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
But there is a major difference between a foreign regulator killing your insolvent banks and your own regulator killing your insolvent banks.

Given the quality of decision-making coming out of the Bundesbank et al, I am not convinced that the European policymakers would have been able to salvage a major banking blowup that happened on someone else's time table. Hell, they may not even be able to handle a blowup that happens on their own time table, but at least then they'd have a sporting chance.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Mon May 9th, 2011 at 02:54:39 PM EST
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