Goodbye Trichet, The Worst Central Banker In The World

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		Tech Entertainment Wall Street Markets Strategy Sports Lifestyle Politics Europe Video Latest Thursday, October 6, 2011 Goodbye Trichet, The Worst Central Banker In The World Jean-Claude Trichet just wrapped up his last press conference has head of the ECB. Not surprisingly, the market tanked during his speech, as his focus on inflation, and lack of willingness to do more disappointed investors who remain freaked out about the crisis. This is classic Trichet. We can't remember a time when the market didn't tank during one of his press conferences. And beyond a certain tone-deafness, he also made bad decisions. In 2011, with the PIIGS crisis worsening, he hiked interest rates because he got spooked by rising oil prices. It should sound familiar. He did the exact same thing in 2008 as the banking crisis was worsening, focusing on prices, rather than the threat of imminent collapse. That year ended in tears, as this one is. Here's the path of what happened in 2008, as he hiked rates into into the peak. Read » Also On Money Game Today: GEITHNER: Get Ready, A New Plan For National Mortgage Refinancing Is About To Come Sorry, No Growth In Retail Hiring This Year Where Things Stand In Europe Right Now 10 Must-See Charts On The Labor Situation In America Advertisement CHART OF THE DAY: Citi's 'Panic-Euphoria Model' Screams BUY, And There's A 97% Chance Of A Double-Digit Return CHART OF THE DAY: For Those Who Don't Believe That History Repeats Itself... CHART OF THE DAY: The Decline And Fall Of Bank Of America Share this: Facebook Twitter Digg Reddit StumbleUpon LinkedIn The email address for your subscription is: dwyld.kwu.careerrrwyld@blogger.com Change Your Email Address | Unsubscribe | Subscribe | Subscribe to the Money Game RSS Feed Business Insider. 257 Park Avenue South, New York, NY 10010 Terms of Service | Privacy Policy

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