Den, der taber mindst, vinder

Endnu et tegn på hvor slemt det står til i finanssektoren: Europas banker låner penge af centralbankerne, for derefter at sætte dem ind på en konto i centralbankerne.

An official with the ECB told the EUobserver that "never before" had this happened. "It's very strange that banks are doing this."

"If you didn't have the economic turmoil in the back of your mind, you would think this is an uneconomic decision," the official said, explaining that banks are borrowing from the ECB at a rate of 4.8 percent but when they deposit the same money back in Frankfurt, they are only earning 3.8 percent.

"So they're losing money," the official said. "The deposit facility is not meant for parking your money. It's meant as a last resort when a bank can't do anything else with its money.

"It shows that there's no trust, no confidence out there," the official continued. "They're thinking if they're going to lose money, at least parked at the ECB is the safest way to lose it."

Joking blackly, the official said: "At least the ECB is making some money on these transactions."

Og TED spread, og LIBOR, og tralalala lala la la. Det kræver en særlig sang af Tom Waits...



God's Away On Business

I'd sell your heart to the junk-man, baby
For a buck, for a buck
If you're looking for someone to pull you out of that ditch
You're out of luck, you're out of luck
The ship is sinking, the ship is sinking, the ship is sinking
There's a leak, there's a leak in the boiler room
The poor, the lame, the blind
Who are the ones that we kept in charge?
Killers, thieves and lawyers

God's away, God's away, God's away on business. Business.
God's away, God's away, God's away on business. Business.

Digging up the dead with a shovel and a pick
It's a job, it's a job
Bloody moon rising with a plague and a flood
Join the mob, join the mob
It's all over, it's all over, it's all over
There's a leak, there's a leak, in the boiler room
The poor, the lame, the blind
Who are the ones that we kept in charge?
Killers, thieves, and lawyers

God's away, God's away, God's away on business. Business.
God's away, God's away on business. Business.

Goddamn, there's always such a big temptation
To be good, to be good
There's always free cheddar in a mousetrap, baby
It's a deal, it's a deal

God's away, God's away, God's away on business. Business.
God's away, God's away, God's away on business. Business.

I narrow my eyes like a coin slot, baby
Let her ring, let her ring

God's away, God's away, God's away on business.
God's away, God's away, God's away on business. Business.