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Thursday, 01/24/2008 9:27:05 AM

Thursday, January 24, 2008 9:27:05 AM

Post# of 19057
On the contrary to Soro thinking on "Banks have lost control":

Yes, banks have lost control, but I think that the Fed has foreseen ARM-melt and has allowed it to happen because they didn't want to micro-manage the industry; however, they knew this would be happening and was thinking remedies.

I noted other speculative, alternative motives of the Fed.


~~~

January 23, 2008
Soros tells Davos: ‘Banks have lost control’
The famed financier believes a recession is almost certain, echoing the views from the World Economic Forum
Times Online and Agencies

George Soros, the billionaire investor, today accused central banks of losing control of the economy following the Federal Reserve emergency rate cut.

The investor, who almost single-handedly drove the pound out of the European exchange-rate mechanism on Black Wednesday, also said that a recession was almost inevitable, telling BBC’s Today programme, “I think it will be very difficult to avoid it.”

Mr Soros, who was speaking from the World Economic Forum in Davos, said: “Central banks have lost control,” adding his voice to a number of other business leaders with the same view.

John Studzinski, head of Blackstone, the private equity giant, said: “The thing that markets are desperate for right now is leadership, whether globally or regionally, and it seems this is lacking.”

http://business.timesonline.co.uk/tol/business/markets/article3239618.ece




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