FedUpUSA

ECB: Broke Isn't Good Enough

 

We have to be REALLY broke!

TRICHET SAYS ECB WILL SUSPEND COLLATERAL RULES FOR PORTUGAL
Trichet to bury the ECB……2 year Portugese bonds down 2.25 points, yield of 17.9%

Of course this is after they stuffed themselves, directly and indirectly, with Greek debt that is now worth much less than it was.

When you’re going bankrupt it’s really, really important to make sure you’re really, balls-to-the-wall bankrupt!  Just a little bankrupt will not do!

Oh, incidentally: May Trichet perform an anatomically impossible act.

Hattip Bearshort on the forum for the grab off the wires.

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It might be good to mention here that this little stunt by the ECB is all designed to protect the bondholders at all costs…..and that cost is the taxpayers.
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