Click on the image to watch Rick Santelli and I discuss EURO/YEN and the European auto industry.
Click on image to watch CNBC’s Rick Santelli and Yra discuss the BOJ (and if you’d like Billy Joel’s “We Didn’t Start the Fire” stuck in your head.
Click on the image to watch Yra discuss the ECB meeting with Rick Sanely
Click to watch me discuss Draghi’s bond buying proposal with Rick Stantelli.
Click the image to watch me talk about Andrew Ross Sorkin’s piece on Glass-Steagall and where he gets it wrong.
As the sellers of snake oil and the creators of the corporate cult of personality take their “bows” for breaking the story about the European bailout that roiled the global equity markets, I had to step back and realize that the European Polity is not the U.S. While Geithner and others are held captive to the vagaries of the DOW JONES and S&P, it seems that the Europeans, and, especially the Germans, are not enthralled by markets going up and how many days of a winning streak exist. There are actually decision makers who are not captured by the price of Deutsche Bank or Siemens. In the U.S. it is only the stock market reactions that seem to dictate the decisions made in Washington. Some in Europe seem to want to effect policy for the longer term regardless the cost to certain financial entities. If forcing the issue on how large a hit private bondholders are to take means that markets dive … so be it.