Enjoy the Rally While it Lasts, Super Mario Draghi’s Bazooka is a Dud

by Keith Fitz-Gerald.

Not too long ago I mentioned that whatever European Central Bank President “Super Mario” Draghi delivers, it had better be big. Because the only way he could hope to shore up the beleaguered e uro, wrest control of interest rates from the modern day financial pirates that dominate credit default swaps and break the impasse between skittish investors was with a monetary “bazooka.” We certainly got one yesterday when he announced an unlimited bond purchase program designed to do exac…

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