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is no longer providing the transatlantic capital flows our economies need. And the guvvermint bankers are stepping in to do the job for them.

Do I see a parallel with the ECB bank liquidity provision mechanim?

i.e. we blithely socialise the risks of lending when the private sector becomes risk-shy.

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II

by eurogreen on Thu Sep 15th, 2011 at 12:30:53 PM EST
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