Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Not quite right, but it's an interesting argument.  The $700 billion bailout was not spent on Oct. 3, 2008.  Much of it wasn't spent at all, in fact, but what was spent largely occurred after the Euro had devaluated sharply against the dollar and the Yen in the months following Oct., 2008, so it is likely that in money exchange terms, the bailout was still profitable from a European purchaser's perspective. You'd have to look at the documented expenditure amounts and use the exchange rates for that particular day to verify it.
by santiago on Wed Sep 2nd, 2009 at 02:10:21 PM EST

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