In further financial news

[andrewducker]

This is the latest BBC story on the fun and games going on in the international stock markets at the moment.

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.

Comments

[octopoid-horror.livejournal.com]

George Bush is exactly the right kind of person to get involved to calm market fears :-p