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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 387.19

-0.7%

Dec 2 4:00 PM EST

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To: Haim R. Branisteanu who wrote (47879)	3/28/2009 12:58:33 AM
From: elmatador	Read Replies (1) of 218147

“This was a crisis fostered and boosted by the irrational behaviour of people that are white and blue eyed,” he said. “Before the crisis it looked like they knew everything about economics. And now they have demonstrated they don’t know anything about economics.” “These were people who appeared to be gods of wisdom,” he added. “Brazil for a long time has been highly responsible in terms of regulating our financial system,” he told a press conference appearing alongside Brown. “The part of humanity that is responsible should pay for the crisis.” ... In common with Czech acting Prime Minister Mirek Topolanek, he also attacked US and British plans to bail out banks by buying or insuring their so-called toxic assets, saying: “I believe we cannot spend the money we still have left to buy toxic assets.” Topolanek, whose country currently holds the rotating presidency of the European Union, this week described the bailout plan as “the way to hell”. Although the British prime minister’s office described Lula’s remarks as targeted for “domestic consumption”, analysts say they reflect a degree of anger among emerging economies at the origins of the crisis and some of the steps being taken to deal with it. ... “This meeting in London has to be a bit spicy because there has got to be a political debate,” said Lula, adding: “I want a London consensus.” British Business Minister Peter Mandelson, who is accompanying Brown, said the main challenge for the G20 summit is “confidence, confidence and confidence”.

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