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Credit Crunch May Take out Large US Bank
business.timesonline.co.uk — The former IMF chief warns the the US may not even be half-way through the credit crunch, and that the outcome may be the fall of one of the country's big banks.
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- Charlotte_Web, on 08/19/2008, -2/+1I think this is pretty damn irresponsible.
This story is nothing but sheer speculation, but because this guy has a high profile, it's having a big impact on the stock market. Which bank? What evidence?
The market is already jittery, and confidence is what we need to recover. How is this different from yelling "Fire!" in a crowded theater? - icepick602, on 08/20/2008, -0/+3He's doing is god damn job. He's an economist. I'm sorry everyone but i hope this isn't a news flash for you: The economy isn't a magical force that operates on goodwill and "confidence." People spend their lives analyzing and looking at hard evidence and statistics in order to watch out for and prevent economic problems, when they come across one, they shouldn't shut up about just because it might hurt the stock market. He's an academic economist and he is paid to analyze and predict things like this. Would you rather just blissfully wait until the American banking system collapses or would you rather know ahead of time?
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