Friday, November 16, 2007
Credit crunch is back
Market freeze to sour festivities
"Federal Reserve was last night forced to pump its biggest combined cash injection into the financial system since just after the September 11 attacks in 2001."
"London Interbank Offered Rate (Libor) surged beyond the 6.3pc level for the first time since mid-September"
Posted by sold 2 rent 1 @ 09:12 AM (772 views)
2 thoughts on “Credit crunch is back”
Add a comment
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
harold says:
“Federal Reserve was last night forced to pump its biggest combined cash injection into the financial system…”
But I thought we lived in a free market?!
Doh, silly me.
drewster says:
Let’s not blame the central banks entirely. Before central banking was ever invented, we had runs on the bank. The whole idea of money gaining interest forever is flawed, without fiat currencies (and constant devaluation). Somebody once said that a kilo of gold bought at the birth of Christ and invested at 3% per year would today weigh more than the earth itself. The financial system needs periodic crises in order to right itself. Right now we appear to be going through one such crisis.