• 12 May 2009 at 11:53 AM

Credit Crisis? Not My Kid!

Furthering the U.S. Euro divide on financial crisis (non)response, the ECB is not having any more of this private asset buying crap. And, you will be happy to know, the incident many refer to as a “credit crunch” or “credit crisis” is absolutely, positively over. Got it? Over. Done. Finished. Ceased to be.

European Central Bank Governing Council member Axel Weber said he sees “no need” for the ECB to buy further private assets to support lending.
“I currently don’t see the need for outright purchases of further private debt obligations,” Weber said in a speech in Munich today. “There is no credit crunch in the euro area; therefore, there is no reason why we should surpass the banking system with our monetary-policy instruments.”

Well, since that’s over….
ECB’s Weber Sees ‘No Need’ for More Purchases of Private Debt [Bloomberg]

8 comments (hidden to protect delicate sensibilities)
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Comments (8)

  1. Posted by guest | May 12, 2009 at 11:56 AM

    you see you US bitches – we are fine over here. you ask why? because here defaulting on your mortgage = personal bankruptcy.
    be smarter next time, dummies from the colonies.

  2. Posted by guest | May 12, 2009 at 11:56 AM

    Got Credit? Who needs actual cash…

  3. Posted by guest | May 12, 2009 at 12:05 PM

    and the European banks will move aggressively to capitalize on the US market weakness..blah blah blah

  4. Posted by guest | May 12, 2009 at 12:17 PM

    ..run down the curtain and joined the bleedin’ choir invisible. This is an ex-Parrot!

  5. Posted by guest | May 12, 2009 at 12:19 PM

    @1
    Be smarter! Please.
    Hopefully the workers don’t burn down the joint over there when they see America recovering and the EU wallowing in economic mediocrity!

  6. Posted by guest | May 12, 2009 at 12:25 PM

    i am going to sue the federal Reserve and bank or america for packing my mortgage up in a security. this is ridiculous, people!
    The Guy From Delaware

  7. Posted by guest | May 12, 2009 at 12:41 PM

    I cant help but wonder when such grand scale state intervention in private markets became the expected norm. Is that really the US over there ? What about allowing firms that have fucked up go under? Rather then drag entire nations down with them.

  8. Posted by guest | May 12, 2009 at 12:59 PM

    @4, substitute BAC for parrot, KL for lumberjack:
    http://www.youtube.com/watch?v=gfIVMchKd_U