and less profitable to creditors, especially those that lent at historically low rates for long terms and are seeing some of that risk blow up,in part because of an ovedue credit crunch… sounds like a story about being stuck between a rock and a hard place. If you inflate to rescue your debt instruments you kill the value of them if you don’t inflate or lower rates it blows up.
No wonder they set up bag holders and are looking for bailouts.
