Wednesday, September 05, 2007

Financial Markets

The Times on financial markets over the summer:
I’ve been away for six weeks. Much been happening?

You could say that. Financial markets have been in turmoil. Central banks have had to extend emergency lines of credit to cash-strapped banks. Hedge funds have collapsed. Institutions have been bailed out using taxpayers money. Scores of planned mergers and acquisitions have been cancelled. Normal service in the City has, for the present, been abandoned.
Thanks to Paul Kedrosky for the pointer.

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