The Great Debate UK
from Commentaries:
Don’t be fooled by global stock stumble
Don't blame global stock markets for being skittish. It is August, after all, a month that has spelled trouble in the past two years.
Recall that, a year ago, Fannie Mae and Freddie Mac started wobbling at the precipice while AIG, desperate for cash, began paying junk-like yields in the corporate bond market. A month later, all hell broke loose.
In August 2007, a shutdown in short-term lending markets forced global policy makers to rush in with a flood of liquidity to keep the lifeblood of the financial system from clotting.
So it's only natural that, this year, sellers are trigger-happy at the slightest whiff of trouble.
from The Great Debate:
First 100 Days: Fix the banks
-- Peter Morici is a professor at the University of Maryland School of Business and former Chief Economist at the U.S. International Trade Commission. The views expressed are his own. --
For every new president, campaign promises and inaugural idealism must give way to the hard choices that measure the mettle of their leadership.
