Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Sounds like the banking sysytem is on life support and the only solution at this time is to print,print,print not knowing when to stop and when the crisis will be over. Real estate prices will continue to implode. In California back in 1982; selling real estate was so bad that the owner of individual homes would take back unrecorded seconds as the down payment. I can see this happening again. It is not a panacea as the combination of mixing sub prime etc into investment packages plus all the other manipulations were not present in 1982. Could be a total meltdown of the system with the only recourse being keep printing.
by An American in London on Wed Dec 12th, 2007 at 12:46:25 PM EST
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