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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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From: S. maltophilia	3/4/2007 9:17:46 PM
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Another cheerful voice: Correction: this could become a crash after all As traders brace for fresh turmoil, soothing words may simply be hiding reality Larry Elliott, economics editor Monday March 5, 2007 The Guardian With his low opinion poll ratings, George Bush needs a crash on Wall Street like a hole in the head. The days are ticking away towards the end of his presidency and the Pentagon is warning that unless the "surge" in Iraq works the United States could be heading for another Vietnam. Little wonder, then, that Washington did its best to rubbish any suggestion that last week's turbulence on the financial markets amounted to anything more than a little temporary difficulty. In this, the Bush administration was ably supported by the great and good of New York - or at least that part of the financial elite that wasn't banged up for alleged insider trading last week by the securities and exchange commission. As ever, the same reassuring story was spun. Like a hypnotist faced with a sceptical member of the audience, the words were repeated over and over again. Listen, this is a correction not a crash. Relax,.... business.guardian.co.uk

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