tag:blogger.com,1999:blog-15037609.post5840521734468761198..comments2023-10-01T16:53:17.274+01:00Comments on Cicero's Songs: Credit FailureCicerohttp://www.blogger.com/profile/02090838836212624633noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-15037609.post-73218385565217595402007-04-13T15:43:00.000+01:002007-04-13T15:43:00.000+01:00Oh Cicero, did you see a unit of RBS this morning ...Oh Cicero, did you see a unit of RBS this morning just bought a hunk of the sub-prime rubbish from New Century? Goodness, they are selling it over the Ocean now! What's next, BoS-Halifax? Is this an anti-Scottish ploy?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-15037609.post-81430394620597449712007-04-12T19:38:00.000+01:002007-04-12T19:38:00.000+01:00There are an awful lot of us few Cicero. When the ...There are an awful lot of us few Cicero. <BR/><BR/>When the market in credit derivatives crashes we will dance to a sorry tune.<BR/><BR/>We are in an economic winter that as been salvaged by printing money: what comes next nobody knows...Etzel Panglosshttps://www.blogger.com/profile/03406597168530012673noreply@blogger.comtag:blogger.com,1999:blog-15037609.post-22349768714963203932007-04-12T15:55:00.000+01:002007-04-12T15:55:00.000+01:00Cicero, the sub-prime crash is directly resultant ...Cicero, the sub-prime crash is directly resultant from the greed of investment banks on Wall Street. I know, I work nearby. Just as they have cashed in on predatory lending practices with credit cards, they moved onto mortgages. With the housing bubble bursting in most of the States, this is the harbinger of the recession we all expect -- with the downturn starting by Q4 or Q1 '08. Most people think the country will be in a mess by the November '08 elections.<BR/><BR/>If London (and Frankfurt) plays its cards right, they will win at the expense of New York. If it strengthen itself now and insulates itself as much as they can from the upcoming US mess (it's impossible, especially if it drags Asia down, but minimising damage is possible), they will come out the leaders of the new, post-Dubya financial world.<BR/><BR/>Goodness, wouldn't the pro-business Republicans love that bit of W legacy?Anonymousnoreply@blogger.com