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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 422.23+1.9%Jan 12 4:00 PM EST
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To: elmatador who wrote (22063)9/7/2007 8:08:54 AM
From: Elroy Jetson  Read Replies (1) of 219303
 
Misquoting people like Axel Weber will not improve your understanding of the situation.

Bundesbank President Axel Weber described the current credit crunch as resembling a bank run, but involving non-bank actors.

Mr Weber told fellow central bankers and economists at the Federal Reserve’s Jackson Hole symposium that the only difference between a classic banking crisis and the turmoil under way in the markets is that the institutions most affected at the moment are conduits and investment vehicles raising funds in the commercial bond market, rather than regulated banks.
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