Does Mark Gilbert want the ECB to be another AIG? He asks the ECB to offer unlimited amounts of...

|By:, SA News Editor

Does Mark Gilbert want the ECB to be another AIG? He asks the ECB to offer unlimited amounts of CDS on PIIGS debt, hoping that lower CDS prices will lower interest rates. When does offering gobs of insurance at an artificially low rate (and not establishing reserves) ever work out? Ask AIG.