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The Dumpster for Toxic Euro Sovereign Debt
 Some might be wondering why the euro zone rescue focus turned to saving banks as opposed to saving governments. The reasons are illuminating. Consider the following: When a government has a debt bulge, the debt must be held as someone else's asset. The designated chump to hold a large portion of it has been the banking system, as its portfolio of assets is easily manipulated by bank regulators. This is how it works.RTWT Posted by: phil_b 2011-11-11 |
| http://www.rantburg.com/poparticle.php?ID=333210 |