Making the Next Bailout the Last

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Making the Next Bailout the Last

Holman Jenkins, Wall Street Journal Op Ed 12/12/2011 online.wsj.com

Ben Bernanke is worried about whether the Fed has the political capital to do it all again.
The European debt crisis isn’t over, and may indeed get a lot worse if the new strategy (as appeared on Friday) is to let European banks borrow unlimited funds from the European Central Bank to cycle back into the [...]

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