2Rae

In an interview with CNBC this morning, Geithner makes the case for clipping the Fed's wings, arguing it will allow the central bank to focus "on the really important things," and that limiting the Fed's emergency authorities would ensure "they don't cause moral hazard" by creating the assumption that "the taxpayer will be there to save them from their mistakes in the future."

[Just FYI and for clarity, I believe that should be "moral hazard"...]

In an interview with CNBC this morning, Geithner makes the case for clipping the Fed's wings, arguing it will allow the central bank to focus "on the really important things," and that limiting the Fed's emergency authorities would ensure "they don't cause moral hazard" by creating the assumption that "the taxpayer will be there to save them from their mistakes in the future."

[Just FYI and for clarity, I believe that should be "moral hazard"...]

Crude Oil Flips to Contango

fxtrader07 --- The wholesale price of gasoline in the US is at $3.40/gallon (The taxes and retail markup give us the pump price.) What is the wholesale price in Europe? If it is different from the US price, do you know why?