1. AFOE is a highly reliable group blog. 2. OTOH, the WSJ is a very good paper, BUT with the exception of the opinion page. It was on the opinion page. On any paper, this is not a particularly good source of decent information (with the exception of the FT, in my experience, and of course opinion), and in the case of the WSJ, doubly so. 3. The attacks on the FT for rumor-mongering in the Zero Hedge post are, um, interesting, as in, you know, the FT does compete with the WSJ. Interesting way of planting an attack on the FT, said planting not exactly being above & beyond the squirrely ethics of News Corp.
AFAIK it's just as simple as borrowing dollars from ECB, which in turn borrows from the FED. no, admit it ! you are an antiamerican pro-euro communist !
this is remarkable: http://ftalphaville.ft.com/blog/2011/09/13/675811/zut-alors-french-bank-sell-off-part-deux/ Hang on a minute. How can formally deny a statement attributed to an anonymous source? âIf you have to prove you are worthy of credit, your credit is already gone.â Sometimes I wonder whether one has to be a certified retarded to be hired as a financial journalist
Yep... To be sure, the rate is punitive (by arnd 75bps), so if you have to do bazillions, you're not gonna be a happy camper. But BNP doesn't have bazillions of USD assets on its balance sheet any more. Proof's in the pudding: the latest result of the 7 day ECB USD tender showed that two banks bid for $575mil, which is a piddly amount. Busted !