Just another Reality-based bubble in the foam of the multiverse.

Saturday, September 17, 2011

no questions asked

Capitalism works! Wspecially when government-funded.

FRANKFURT — Worried that Europe’s debt impasse posed a growing threat to the global financial system, the world’s major central banks moved Thursday to assure that European banks would not run short of cash as troubled nations like Greece and Italy sought to stabilize their economies.

The central banks, in a coordinated action intended to restore market confidence, agreed to pump United States dollars into the European banking system in the first such show of force in more than a year. Some banks have found it hard to borrow dollars as American lenders grew nervous about their financial condition...

But use government funds to create jobs independent of private entrepreneurs? Heresy, it's Socialism!

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