Wednesday, December 26, 2007

MONEY makes the world go round.

Isnt this sort of like the enemy sneaking in through the back door?

"The deepening red ink from the turmoil in housing-related debt has left banks and policy makers struggling to contain the damage to the financial system and the broader economy.

As the losses mount, cash-rich investors from the Middle East and Asia are cutting a wide swath through Wall Street. Since late October they have spent more than $22 billion for stakes in Bear Stearns, Citigroup, Morgan Stanley and UBS".

More on this here. Dubya's comment was "I dont think its a problem" whilst Robert Kimmitt, the deputy US Treasury secretary said "The most obvious consideration is national security".

Understatements all round :-o

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