Wednesday, March 5, 2008
With no Gordon Brown to tell him to shut up Eddie tells it as it is!
It is still too soon to call an end to the liquidity crisis that has gripped global capital markets says Eddie George. We may see further shocks as year-end financial results are published and the prospect of first quarter accounts get closer. We're already seeing a renewed tightening in the wholesale money markets," George also warned that deep interest rate cuts from the U.S. Federal Reserve -- and a readiness to cut rates again -- could mean short-term gains but long-term consequences, undermining long-term economic health.