It’s Not a Banking Crisis – This is Just a Learning Process says ECB Member

QUESTION: Mr, Armstrong, Just how stupid do these leaders really think we are? The ECB Governing Council member Ewald Nowotny said there is no banking crisis. “We are in a transition and learning process.”

KR

ANSWER: Well they think we are stupid, and the press is either brain-dead or corrupt. It is unbelievable. However, if we are in a “learning process” through the mess, isn’t that admitting they do not know what they are doing?