The Pain of Restoring Investor Confidence

The Pain of Restoring Investor Confidence:

"Krugman worries that the ECB will show some backbone – refusing any more bailouts to Greece. Then, “it’s all too easy to see how it could start financial dominoes falling across Europe.” That would be a disaster to the Nobel winner. Just like the failure of Wall Street banks…and Fannie Mae…and Freddie Mac…and GM…would have been disasters.

The man learns nothing. Central banks have spent the last 4 years trying to prevent a reckoning of the worlds’ debts. And the debts just get larger."