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That actually makes some sense. There is a little problem, though: The ECB doesn't have the legal authority to resolve anything.

That is the duty -please don't laugh - of the Irish bank regulators.

In other word of the people who allowed this whole problem to happen.

But instead of laying the problem at the foot of the Irish authorities, you like to blame others.

by IM on Sat Feb 5th, 2011 at 07:02:05 AM EST
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That excuses the ECB from the first paragraph. It does not excuse the ECB from anything else on that laundry list of indictments of poor performance.

In fact, it does not even excuse the ECB from the first paragraph. Because the ECB has been lobbying for the banks to not be resolved since the first day of this crisis. The ECB decided to be a part of the problem, where it could have been a part of the solution.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Sat Feb 5th, 2011 at 07:14:29 AM EST
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