Oh well, back to normal...

[johnny9fingers]

http://www.guardian.co.uk/business/2008/mar/17/marketturmoil.creditcrunch?gusrc=rss&feed=worldnews

We've got problems. It appears we'd have had problems even without the military-overspend-on-two-wars-situation. We're going to need a lot of white collar prison places if we deem the perps of these problems criminals or fraudsters. Perhaps it shows a need for stricter controls upon the financial industries? Or, given that these folk 'Police' themselves, would that be gilding the lily?  

Comments

Rubbish, my dear

[(Anonymous)]

The industry is policed by the FSA in the UK and the SEC in the US. This is not being policed by themselves - both are independent. The last thing that is needed is tighter controls - what actually needs to happen is that the controls that are already in place need to be enforced intelligently. Given that (and I am possibly being overly harsh here) it seems that in the money industry, those who can't, regulate, it may be difficult to acheive this.

I would be very surprised if there was anything even approaching systematic fraud here - foolishness yes, fraud no.

M

[winterlion.livejournal.com]

Actually I wonder what the fallout really will be.

As for every time in the past - I look for the empty warehouses and the shadow business - because that's where it will implode.