Korean Job Discussion Forums

[mack4289]

http://www.iht.com/articles/2007/09/12/business/boe.php

"In an unusual public display of discord, the Bank of England criticized other major central banks Wednesday for injecting cash into the financial system to help stabilize credit markets, saying such a policy amounted to a bailout of investors who had made bad decisions.

Mervyn King, the governor of the Bank of England, also hinted that the current crisis could make further interest rate rises unnecessary, if the recent sharp increase in borrowing costs ended up hurting consumer demand. That, he said, would lower the inflation outlook, despite the current explosion in prices of commodities from oil to wheat.

.... Still, King has turned into the most prominent critic of those clamoring for cheap money. Such market players see more liquidity as the solution for investors who borrowed heavily to buy the securities that have lost value. But King's fear is that cheap money will encourage investors to rebuild the financial house of cards that is now tumbling down.

"If risk continues to be underpriced, the next period of turmoil will be on an even bigger scale," King said."

Reading the business section since the mortgage bubble popped, there's been a shift in tone from "there have to be consequences for careless investing" to "we have to cut the rates to maintain the economy." But aren't we just doing the same thing that we did after the dot-com bust?

Also, the Bank of England talks a good game, but...

http://www.iht.com/articles/2007/09/14/business/mortgage1.php

"The Bank of England has offered an emergency loan to Northern Rock after the mortgage lender became the biggest British casualty so far of the credit squeeze sparked by the crisis in U.S. subprime mortgage markets.

Britain's finance minister said on Friday he had authorised the Bank of England to provide an unspecified amount of financial support to Northern Rock, which was the country's biggest mortgage lender in the first half of this year.

While it has no exposure to subprime loans, Northern Rock has proved vulnerable to the liquidity squeeze triggered by the U.S. subprime lending crisis because it has a small deposit base and so has to draw most of its funding from money markets."

Granted, it's not a bank that helped create the crisis, but still, it's a bank that benefited from the careless lending.

[SPINOZA]

In plain English, what's your point mate?

[mack4289]

Just asking if there's anyone who thinks this guy isn't right.

[igotthisguitar]

Iran Leader: Bush Will Be Tried
By NASSER KARIMI, Associated Press Writer
Fri Sep 14, 3:52 PM ET

TEHRAN, Iran - President Bush and other American officials will one day face trial just like deposed Iraqi dictator Saddam Hussein for "the catastrophes they caused in Iraq," Iran's supreme leader said Friday.

Speaking to thousands of worshippers during the first Friday prayer of the Muslim holy month of Ramadan, Iran's supreme leader Ayatollah Ali Khamenei said that Bush will be called to account for the U.S.-led invasion.

"A day will come that the current U.S. president and officials will be tried in an international supreme court for the catastrophes they caused in Iraq," he said.

"Americans will have to answer for why they don't end occupation of Iraq and why waves of terrorism and insurgency have overwhelmed the country," he added. "It will not be like this forever and some day they will be stopped as happened to Hitler, Saddam and certain other European leaders."

http://news.yahoo.com/s/ap/20070914/ap_on_re_mi_ea/iran_us_iraq

(ETC)

[keane]

[mack4289]

[quote="igotthisguitar"]Iran Leader: Bush Will Be Tried
By NASSER KARIMI, Associated Press Writer
Fri Sep 14, 3:52 PM ET

TEHRAN, Iran - President Bush and other American officials will one day face trial just like deposed Iraqi dictator Saddam Hussein for "the catastrophes they caused in Iraq," Iran's supreme leader said Friday.

Speaking to thousands of worshippers during the first Friday prayer of the Muslim holy month of Ramadan, Iran's supreme leader Ayatollah Ali Khamenei said that Bush will be called to account for the U.S.-led invasion.

"A day will come that the current U.S. president and officials will be tried in an international supreme court for the catastrophes they caused in Iraq," he said.

"Americans will have to answer for why they don't end occupation of Iraq and why waves of terrorism and insurgency have overwhelmed the country," he added. "It will not be like this forever and some day they will be stopped as happened to Hitler, Saddam and certain other European leaders."

http://news.yahoo.com/s/ap/20070914/ap_on_re_mi_ea/iran_us_iraq

(ETC)[/q

How's this relevant?

[igotthisguitar]

[mack4289]

Not to me, no.