The subprime crisis has not finished yet. Maybe even its peak has not occured yet. In fact several banking groups announced this mornings terrible losses due to the subprime and the CDO.
But this is not the most amazing part of the story. Although those banks used to be helped and backed by central banks in the past, this time rescuers are investors from ... China, Singapore , Abu Dhabi. Here is the point: what's going on? Who is supposed to be helping and who is supposed to be helped? And I am even more amazed because nobody seems to criticise this situation. What a shame for the US, the UK and all these countries who were supposed to be the best in the field of finance!!!
But this is not the most amazing part of the story. Although those banks used to be helped and backed by central banks in the past, this time rescuers are investors from ... China, Singapore , Abu Dhabi. Here is the point: what's going on? Who is supposed to be helping and who is supposed to be helped? And I am even more amazed because nobody seems to criticise this situation. What a shame for the US, the UK and all these countries who were supposed to be the best in the field of finance!!!
1 comment:
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