Sunday, February 17, 2008

It’s their mess – let them sort it

Don’t cave in to bankers who plead for more

“PLEASE, SIR, can I have some more,” whinge the Oliver Twists on Wall Street. More interest-rate cuts from the Federal Reserve Board, a bigger portion of stimulus from the president and Congress, more direct relief for the housing market, a bail-out of bond insurers – you name it, and investors and bankers want more of it. Except for write-downs: the increased recognition of losses that nervous auditors are demanding is the one thing the bankers don’t want any more of piled onto their plates.

Posted by uncle chris @ 11:05 AM (591 views)
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One thought on “It’s their mess – let them sort it

  • Interest rate cuts are a sop to big business, unfortunately Joe Public is all spent up and with inflation out stripping wage rises and employment prospects it is a temporary exercise.

    This is the quiet before the storm; note how little news there has been on our pet subject this weekend!

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