Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
difficulty in setting a value on banks' toxic assets

It's kinda cool who they're always in favor of letting the markets work unfettered, until they're not.

The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman

by dvx (dvx.clt št gmail dotcom) on Wed Apr 22nd, 2009 at 04:17:38 AM EST
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Well, now they have realised for themselve why the market won't touch the assets with a 10-foot pole.

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith
by Carrie (migeru at eurotrib dot com) on Wed Apr 22nd, 2009 at 04:36:02 AM EST
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