Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Do you really think it is wrong that the largest economy in the Eurozone has some influence?

I think it is wrong that incompetent fuckwit ideologues have any influence at all, let alone disproportionate influence.

And the highest concentration of incompetent fuckwit ideologues East of London happens to be in the BuBa.

And capital doesn't vote the heads of the central bank do.

Yeah, yeah, on paper.

Just like, on paper, every NATO member has veto rights over foreign adventures.

The Americans call that sort of kabuki theatre "legal fiction."

In your hate of the Bundesbank you don't seem to see what is happening here: They are losing and try to use extraordinary means to compensate for the fact that at the regular CBE decisison nobody listens to them.

On what planet do you spend most of your time?

The ECB's playbook for this crisis has been a virtual carbon copy of the Bundesbank's playbook for the 1993 ERM breakup. And every single time the ECB has deviated a single millimeter from the BuBa 1993 playbook, the incompetent fuckwit ideologues at the BuBa have pitched a public hissy fit. In direct violation of the rules of confidentiality that the same incompetent fuckwit ideologues insisted on to begin with.

If the ECB had consistently overruled the BuBa, not a week would have gone by without a BuBa hissy fit. The fact that we only have about one hysterical tantrum a month demonstrates that the other 22 business days in each month the ECB is toeing the BuBa line to the letter.

You mean Trichet.

Yeah, him too.

But the thing about responsibility for fuckups is that it does not become more diluted by being spread out over more people.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Sep 7th, 2011 at 04:00:13 PM EST
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