Tumblr Icon RSS Icon

Scary Sentence Of The Day

Posted on

"Scary Sentence Of The Day"

Share:

google plus icon

“A leveraged EFSF is attractive to politicians for the same reason that subprime mortgages once appeared attractive to borrowers,” writes Wolfgang Munchau, “leverage can have different economic functions, but in these cases it simply disguises a lack of money.”

I believe the smart concise thing to say about the situation at this point is that they’re trying to have a fiscal authority perform a monetary function.

« »

By clicking and submitting a comment I acknowledge the ThinkProgress Privacy Policy and agree to the ThinkProgress Terms of Use. I understand that my comments are also being governed by Facebook, Yahoo, AOL, or Hotmail’s Terms of Use and Privacy Policies as applicable, which can be found here.