This is somewhat of a relief. I am all for governments bailing out companies that need to be saved, and given the panic over the last few days I should say this company needed bailing out. I always find such situations an awful Catch 22. It's easy to get into a panic if you are someone who has savings in a bank that is rumoured could go under, and I could easily see myself among the queue. But by not accepting the guarentees of assurance and helping to cause panic withdrawls you end up helping to create the very crisis that needs to be avoided.Tuesday, September 18, 2007
Steady as a rock perhaps?
(BBC Online)
This is somewhat of a relief. I am all for governments bailing out companies that need to be saved, and given the panic over the last few days I should say this company needed bailing out. I always find such situations an awful Catch 22. It's easy to get into a panic if you are someone who has savings in a bank that is rumoured could go under, and I could easily see myself among the queue. But by not accepting the guarentees of assurance and helping to cause panic withdrawls you end up helping to create the very crisis that needs to be avoided.
This is somewhat of a relief. I am all for governments bailing out companies that need to be saved, and given the panic over the last few days I should say this company needed bailing out. I always find such situations an awful Catch 22. It's easy to get into a panic if you are someone who has savings in a bank that is rumoured could go under, and I could easily see myself among the queue. But by not accepting the guarentees of assurance and helping to cause panic withdrawls you end up helping to create the very crisis that needs to be avoided.
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2 comments:
There is no way that I would leave my money in a bank under these circumstances. Panic buying/selling can be very damaging but I do feel a great deal of sympathy for those caught up in it.
I know, although the news this morning was faintly encouraging
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