Thursday, December 13, 2007
Central Bank to the Rescue, views coming in
"The Fed stoked volatility by disappointing hopes of a big cut in the discount rate on Tuesday. ... So Tuesday’s savage Wall Street sell-off could have been avoided." "They may well get the markets back into order. They may, in this way, rescue economies from the threat of recessions. But that is not the end of the story. The bigger the rescue has to be today, the more stringent regulation of financial institutons will have to be in future."