Friday, August 5, 2011

Robert Peston: “We’re in a for a hair-raising few days.”

How close is Credit Crunch 2?

Editorial from Robert Peston on how growing sovereign debt crisis is affecting banks' profits. Interesting that RBS is taking a charge of 50% of its Greek sovereign lending, while the French banks are only taking charges of 21% for exposure to the same debt. Expect we'll see Peston much more regularly again on the 10 o'clock news as CC 2.0 gets underway.

Posted by doom&gloom @ 01:53 PM (1233 views)
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4 thoughts on “Robert Peston: “We’re in a for a hair-raising few days.”

  • Robert Peston – The 5th rider of the apocalypse?

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  • This whole sell off is utter b0ll0x, looking at the volumes, yes they are up across the board but try buying any share and you are having difficulties and going NT. You have to ask why is there a concerted effort in the media to instill panic, along with Barroso the morons comments. Insignificant volume/falling prices=market manipulation across the board, what we’re seeing is the bankers seeking to generate the ‘need’ for QE3 in the US and QE2 in the UK, whilst pushing for Europe to QE somewhat or in other words take more purchasing power out of the citizens pockets.

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  • Is there room for a Crunchy 2.0.

    I guess there will always be someone willing enough to take my place if I get snuffed out for unruly behaviour.

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  • Rental John says:

    Unfortunately by the time Mr P has as labouriously made his way through one of his reports, it will be over and we will in to the next crunch!

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