Jim Bianco: ‘Why ECB Shows Central Bankers Can Make for Bad Capitalists – The Independent

Consider Germany’s Bayer AG, which agreed to buy Monsanto in May 2016 for $66bn in what was then the largest all-cash merger ever announced. The deal was controversial from the start as Bayer was going to need to raise billions. Traditionally, this means going on a roadshow and explaining its plan in great detail. Without evidence of a credible plan, capitalists will not part with their money.

Not the ECB.