Bereft of Reason


Headless chickens.

Privatisation of profits, socialisation of losses.

Staunching the flow of blood, but not fixing the wound.

A real downer from Robert Peston commenting on the (proposed) US bail-out of the banking industry, and a whole spectrum of comments from his readers. I’m no expert of international banking, but the scale of the numbers, means we need to understand where this might be leading. Since the markets already appear to have taken the bail-out into account, what if Congress rejects the proposal ?

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