How the mighty have fallen

I’d write, but they’ve done a splendid job of it, a MUST read!

“FINANCE houses set out to be monuments of stone and steel. In the widening gyre the greatest of them have splintered into matchwood. Ten short days saw the nationalisation, failure or rescue of what was once the world’s biggest insurer, with assets of $1 trillion, two of the world’s biggest investment banks, with combined assets of another $1.5 trillion, and two giants of America’s mortgage markets, with assets of $1.8 trillion. The government of the world’s leading capitalist nation has been sucked deep into the maelstrom of its most capitalist industry. And it looks overwhelmed.”

I’m shocked and saddened by the unravelling saga.

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2 thoughts on “How the mighty have fallen

  1. The real question is how might we be affected, from what I understand (and I am not financial whiz) and after reading “the world is flat” I believe a crisis on the other side of the Atlantic could affect us too.

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