What's new in the eurobaloney crisis

It has been such a busy week news-wise that you might have missed this tidbit.

Non-elected Italian PM and former Goldman Sachs advisor Mario Monti and EFSF boss Klaus Regling have prevailed upon austerity goddess Angela Merkel to permit the creation of a new bail-out superfund to be called the European Stability Mechanism.

The EFSF is the European Financial Stability Facility, created in 2010 as a conduit to shovel public money to failing private banks. Regling was one of the chief architects of the eurozone (as was Monti) and among the many other hats he wears, he has been an advisor to hedge fund Moore Capital Management.

What's new about the new European Stability Mechanism is that it will be authorized to shovel the public's money directly to the banks without the approval of national governments!

This is certainly cause for celebration among the Bilderberg crowd. There's nothing worse than a bunch of elected politicians to gum up the smooth running of the machinery of plutocracy.

Enough already with "will of the people" this and "public interest" that... this will free up the banksters to do what it is their God-given mission to do.

Screw over the rest of us.