In further financial news
Aug. 10th, 2007 10:36 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
This is the latest BBC story on the fun and games going on in the international stock markets at the moment.
And now the funny bit:

Central banks in several countries have been intervening in the money markets to prevent a continuing problem with US housing loans turning into a global financial crisis.
Central banks in Malaysia, Indonesia and the Philippines intervened to sell dollars to support their currencies.
The European Central Bank injected a record $130.6bn (£64.6bn) into Europe's money markets to prevent a financial system seizure.
The worry is that should banks make losses, it would hurt their earnings and their profitability, making them less willing to fund the takeovers and buyouts that have underpinned much of the stock markets' recent gains.
And now the funny bit:
The declines in the US markets came despite attempts by President George W Bush to calm market fears.

no subject
Date: 2007-08-10 10:40 am (UTC)no subject
Date: 2007-08-10 03:49 pm (UTC)6052.2 down -219.00
I'm so glad I pulled out my shares nearly a year ago. It was at 6250 ish back then, and even though it reached 6500+ I have had a year of them being in a high interest savings account to make up for that. If I had them now, I would be cursing.
YAY for knowing a good time to quit ahead :)
no subject
Date: 2007-08-10 06:34 pm (UTC)no subject
Date: 2007-08-12 04:47 am (UTC)