Saturday, Mar 22, 2008
Gentle return to normality?... what a difference 10 days can make!
DavidSmith: Home economics: a solution to the problems in the mortgage market?
David Smith's vintage piece of just 10 days ago was preaching cautious optimism and all will be fine. With the confidence of an insider, David was boasting the £100bn liquidity injection by the central banks... oops a banana peel, the obscure institution formerly known as Bear Sterns brought us all back to the seriousness of the current credit crisis. And the City job losses (now estimated at 10,000 and counting) project gloom on the London housing market. Sorry, David, try to write a piece which can last more than a weekend!
Posted by confused76 @ 09:43 AM (670 views) Add Comment
5 Comments
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1. handle_it said...
I'm getting weary of hearing the sort of nonsense this guy continually spews out. Northern Rock didn't get in trouble because of the money markets drying up. The money markets dried up because of their reckless business model.Mr Smith please stop trying to spin your selves back in time. It's over. Let it go...
2. hpwatcher said...
I have absoutely no interest in anything that this fool says.
Neither am I going to click on the link, as it will doubtless help him with ad revenue's etc
3. housing carbuncle said...
I'm also fedup with all these silly buzz words and phrases like "liquidity injection". Why not just be honest and say government support or tax payers money to the tune of £100 billion.
4. plato said...
Is that really his name ?
5. harold said...
"Is that really his name ?"
No. He has a number of middle names:
Mark
Olaf
Richard
Onegin
Nathan