Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (295461)	12/3/2010 3:56:20 PM
From: Les H	Respond to of 306849

In a Dow Jones interview, the ECB President was asked why the ECB had “decided against increasing the volume of bond purchases… or setting a target like the U.S. did.” To which Trichet responded in a very telling fashion: “We did not decide against anything. We’ve said — and I said on behalf of the governing council — that our SMP program was ongoing. We also decided that we would continue to supply liquidity on an unlimited basis, not only for one week and one month, but also for three months, in order to have a set of nonstandard measures that would be commensurate to our analysis of the situation.” In my humble opnion, this statement had a lot to do with why stocks rallied on Thursday. Although Jean-Claude Trichet did not spell it out in so many words, he made it very clear that the ECB, like his counterparts at the Fed, were on the case. The key was the phrase “we would continue to supply liquidity on an unlimited basis.” Which, in English means, that the ECB will likely do everything in its power to keep this crisis from getting out of hand. blogs.forbes.com