Saturday, Aug 11, 2007
IMF says its Manageable - Well Thats Alright Then
BBC News Online: IMF seeks to calm financial fears
Central banks around the world have moved to prop up markets by lending money to banks who might be in trouble while the IMF and others make soothing noises.
Posted by enuii @ 11:40 AM (136 views) Add Comment
11 Comments
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1. uncle chris said...
Hang on - all these banks have been making massive profits over the past few years. Why are central banks now saving them from the ridiculous lending decisions they made, which were no doubt driven by greed. I just hope the money being paid out by central governments will be repaid from future bank profits and shareholder dividends.
2. stillthinking said...
If the banks are being bailed out by massive government lending, isn't that going to directly lead to inflation? Either they are lending the money at an appropriate interest rate or they are lending at a low interest rate essentially giving the banks cash. If the banks are given additional cash then this presumably adds to inflation?
???
3. Mark said...
what was most interesting last night on ITN news was this
the words "Global recession" was said 4 times
the words "Uk housing crash" was mentioned once, in the context of this is likely to cause a uk housing crash...
funny how BBC this morning were brushing it off with the usual propaganda......and had people on TV with distorted views... the lady they interviewed said it will be all over and ok by septemeber................huh, really.....this is just the start....
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6. Orwell said...
Ask David Smith. Go on his Web Site.
7. japanese uncle said...
We must introduce a legislation which enables retrieval of monies paid out as dividend while mega banks are making multi-billions pounds of profit, once it is proven that those profits were made possible by bad (or illelgal) business practices costing the general public, including sub-prime business and it equivalent in the UK.
8. enuii said...
Excuse my ignorance but where has all this money gone, who gets these multi billion £/$/€ profits and where do they stash them?
9. Spunkmycash said...
In the self abusing ponzi pie machine that will soon stop serving customers
10. Alan said...
My money is on the Fed dropping interest rates. The UK would then be forced to follow suit (or suffer a £1/$2.20 exchange rate).
This will not help inflation, however!
11. Orwell said...
The Insolvency Act/s in the UK should cover it but they don't.