Tuesday, November 18, 2008

HOW DID THEY NOT SEE THIS COMING?

Dire warnings of a deep recession are all over the news.

The Bank of England recently slashed interest rates.

The FSA says it did not know about the scale of the derivatives market or the way the banks were abusing their power to create credit.

The BoE and FSA should regulate our financial system to provide stability and fairness.

They have failed. Miserably.

How did they not see this coming?

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