Central banks at risk of sinking along with banks
Tue Sep 9 2008 5:32 am
by Bob Morris.
Central banks are taking on so much dodgy debt that they will put themselves at risk if they continue extending support to their banking systems.
The solution is to do what capitalists profess to believe but what we’re not seeing much of lately. Let the weak die. Don’t prop them up.
A central bank collapse in any major country would probably crater the world financial system, at least temporarily.
Posted in: Credit crisis.
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