Yankee Go Home!

As we wrote yesterday sec. Geithner went to Europe to offer his expertise as a Financial Engineer.  Apparently he told the European finance ministers that, as he learned at the Fed, you can actually drown the debt by pouring enough liquidity.

"He conveyed dramatically that we need to commit money to avoid bringing the system into difficulty," Austria's Finance Minister Maria Fekter told reporters after the meeting.
"I found it peculiar that even though the Americans have significantly worse fundamental data than the euro zone, that they tell us what we should do and when we make a suggestion ... that they say no straight away."

At least Geithner didn't tell the Swiss they should supervise their banks.