A Moment Of Sanity: Germany Rejects Geithner's Advice

This past weekend sec. Geithner, one more time, propose a leveraged solution for a leverage problem.  This time, he tried to convince the Germans to allow the bailout fund, which they guarantee, to borrow in the markets (with German credit) to buy even more Italian and Spanish bonds.  The German response? See below:  

"I don't understand how anyone in the European Commission can have such a stupid idea. The result would be to endanger the AAA sovereign debt ratings of other member states. It makes no sense,"

It seems Geithner not only continues to see the world exclusively through the banker's eyes ("save US or else") but has yet to see a financial engineering solution he doesn't like.