OF THE
TIMES
"To some people, the European Central Bank seems like a fire department that is letting the house burn down to teach the children not to play with matches."So wrote Jack Ewing in the New York Times last week. He went on:
"The E.C.B. has a fire hose - its ability to print money. But the bank is refusing to train it on the euro zone's debt crisis.Why not? According to the November 28th Wall Street Journal, "The ECB has long worried that buying government bonds in big enough amounts to bring down countries' borrowing costs would make it easier for national politicians to delay the budget austerity and economic overhauls that are needed."
"The flames climbed higher Friday after the Italian Treasury had to pay an interest rate of 6.5 percent on a new issue of six-month bills . . . the highest interest rate Italy has had to pay to sell such debt since August 1997 . . . .
"But there is no sign the E.C.B. plans a major response, like buying large quantities of the country's bonds to bring down its borrowing costs."
Comment: Readers might be interested in reading the following series on RFK's assassination by Allen Branson:
The Assassination of Robert Kennedy, Part 1
The Assassination of Robert Kennedy, Part 2 - Thane Eugene Cesar
The Assassination of Robert Kennedy, Part 3 - The woman in the polka dot dress
The Assassination of Robert Kennedy, Part 4 - Deeper Down the Rabbit Hole
The Assassination of Robert Kennedy, Part 5 - Sirhan Sirhan