Wednesday, Sep 19, 2007
Channel 4 gives Merv and Gordo both barrels
Channel 4 News: £40bn injection risking 'financial chaos'?
In stark contrast to the BBC, Channel 4 News' top story asks if Gordon has been sticking his nose where it's not wanted.
A dramatic U-turn by the bank of England: But who's in charge, the governor? or the politicians?
A week can be a long time in economics - last Wednesday the governor of the Bank of England said that injecting more cash into the money markets "encourages excessive risk-taking, and sows the seeds of a future financial crisis".
But today, after a week of turmoil which has undermined public confidence in the banking system, he did just that - pumping an extra ten billion pounds into the markets for three months.
Posted by shipbuilder @ 07:22 PM (464 views) Add Comment
9 Comments
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1. Bearlyconcious said...
If Merv is being push around by the PM he should resign his position, short the market and watch the while mess unfolds. Taking on dangerous risk is being encouraged as is inflation. BBC seems exceptionaly unbalanced in accusing BOE of U-turn. The situation is really not that simple.
2. enuii said...
If Gordon is using the B of E to buy an early election we will all pay for it later in a much more serious and bigger way than if events are left to run their natural course.
3. Dan670844 said...
Basically the banks are off the hook, who will pay..........the average joe with higher interest rates. Now the pain will really start. The banks dont care about us and the politicians want to get re- elected same old same old
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7. alan said...
The Finance industry is the UK's flagship.
If we get it wrong the impact will be too painful to contemplate.
8. Robert Mugabe said...
Do nuns .... Of course he is...
9. wiltshire said...
"Flagship". I get this imagine of Crash Gordon on the bow of a ship, as it sails into the sunset, and he's shouting "I'm king of the woooooooooooooooooooooooooooorldddddddddddd!!!!"