Oh f***, they've done it, they really think that this will work.
Let me say right here and now, it won't.
I don't know what will happen next, all I know is that whatever comes next will be worse.
Twats.
Elevate their cause?
7 hours ago
Tuesday, 7 October 2008
"The UK government is poised to announce details of a £50bn rescue package for the banking system"
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4 comments:
Every time someone says "the banks aren't insolvent, they're only illiquid" I think "how do you know?" Part of my explanation for the crisis is simply that the bankers are quite clever but not half as clever as they imagined themselves to be. They were not, it transpired, practical men.
Fasten your seat belts; it's going to be a bumpy.....
Oh dear.
All they had to do was look across the pond.
Why can't they be brave for once and let people know how the problem arose and what it really means?
Oh, silly me, they'd have to admit to their part in it and admit they cannot control the future. Silly, silly me.
I really don't get a lot of this talk about credit and how the world is going to end if companies don't get it.
Lots of businesses rarely or never use credit. They grow organically, or borrow when they have a particular expansion in mind (which means that the funding is longer term and planned). Living on your overdraft is just nuts.
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