Pretend

The NYT is the paper that shows up on my doorstep every morning, so it is my gauge of the traditional media. Apparently, when talking about European banksters, they can do more truth-telling.

Floyd Norris on extend and pretend, with feta.

As negotiations proceeded in Europe this spring over Greek Bailout II, Mr. Trichet laid down a line in the sand: Nothing must be done to force banks to take losses on the bad loans they have made to Greece.