Friday, October 3, 2008

Whose not collapsing?

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4870873.ece

Under the girth of big business
Who lied to all like Hell
The leaders heads are swirling
Into a chaotic collapse as well
The people don't trust their leaders
Who made money off the sell
Of the little people's live
That they planned to burn as well!


Plans for a pan-European response to the global financial crisis lay in tatters last night as Greece followed Ireland in unilaterally guaranteeing all bank deposits.

Amid reports that Greek depositors were rushing to withdraw their savings, Greece's Cabinet agreed to protect all deposits whatever their size. Previously the maximum guaranteed was €20,000 (£15,600).

A proposal by President Sarkozy of France to create a European €300 billion bailout fund also collapsed, leaving attempts on this side of the Atlantic to calm investor panic and lubricate the money markets in chaos.