Top Blogging (Bank Bailout Special)
Posted on October 9th, 2008 by timalmond
I don’t do a whole lot of pointing to other bloggers, but some special commendations are due to a couple of bloggers over the house price/bank bailout situation.
Firstly, to Mark Wadsworth who seems to be almost full time on this topic at the moment and who is demonstrating far more depth on the subject than you’ll find in your normal broadsheet.
Secondly to Pootergeek for this rather splendid piece of satire on the subject.
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Ta for link.
I get the strong impression that people still have no grasp of the basics - i.e. what banks’ balance sheets actually look like - what’s an asset and what’s a liablity, for example.
If people can’t be bothered to suss this out - which should take no more than a few minutes - they will never understand that we are being lied to and ultimately conned out of taxpayer’s money. And why debt-for-equity swaps would sort this out in one fell swoop, with no need for taxpayer involvement.
That’s why I have concentrated on it more than usual.
Hi Mark,
I personally find that when people start talking about finance that I’m off to Wikipedia to get the low down on what things actually are.
Thanks for the link. PooterGeek’s been quiet lately, but I’ve just moved it to a dedicated server and will try to update it more often.