Sunday, October 12, 2008

Market Closed ?

The Times: Reports that the Government will take over the Royal Bank of Scotland and HBOS, the paper of record reports the following " The scale of the fundraising could lead to trading at the London stock market being suspended. " . It could be argued that to preserve the Western Economy, all Markets should be closed down in the USA and Europe, then all banks and financial institutions should be told to give their governments all the information they have on their bad debts. Then the G7 should meet to thrash out a new economic system for the West. It is without doubt that this economic 9/11 will have effect for years on the Western economy. The days of " Greed is Good " are well and truly over, well will look back on those days as shown in the film Wall Street as the good old days. This new world will see the Government in charge of the Western economy and banks, lets recall the 1970s folks, we might one day want to go back to the days of Wall Street, what ever you think of the justice of it, some people are rich and other are not, as JFK once stated, life is not fair! The Western way of business is going to change, what government will allow a business to go under when its given hundred of billion dollars to Wall Street or the banks, Reagan would not be happy, the Government is back in charge.

No comments: