Sunday, February 17, 2008

Financial crisis every 10 years?

Read this article in CNN
http://money.cnn.com/2007/09/14/pf/sivy_markets.moneymag/index.htm

It seems that a crisis occurs every 10 years in USA:
1989-90 Savings and Loans crisis
1998 - Long Term Credit Management
2008 - Subprime
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2 comments:

hongjun said...

How long does each of the crisis last? How long do you guys think this subprime crisis will last?

hongjun

February 17, 2008 11:38 PM
Anonymous said...

This subprime crisis is only beginning. The banks have not been very truthful in divulging the actual amount of loss, partly due to incomplete information as well. Many financial institutions, especially the foreign ones, kept revealing more and more losses. The next wave to be hit will be the reinsurers. Much has been done by governments to stabilise the situation. The move by the British government to nationalise Northern Rock is without precedent. The fact that they are now doing this in a capitalist market, despite criticisms from the market and law makers showed how desperate they are, and how dire the circumstances are. This crisis will have a dynamo effect, and this is only just the beginning.

Pegasus

February 19, 2008 1:47 AM

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