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

GLD 393.24

+1.1%

Dec 11 4:00 PM EST

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To: elmatador who wrote (30757)	3/9/2010 2:46:00 AM
From: elmatador	1 Recommendation of 218430

The finance boom kicked off in 1986: "Britain’s Big Bang is another example of artificial booms created out of rosy predictions. Britain’s 1986 Big Bang was designed to deregulate brokerage commissions, and bank and securities houses from around the world were allowed to compete freely against each other. Thus making London the most open market in the world. Big Bang caused millions of losses to American and European banks. Three years later the City’s major players had lost $2 billion. In 1988 Citicorp’s global securities business lost $50 million in London. Chase Manhattan pulled the plug of its equity operation in the beginning of 1989, taking a $40 million write-off. Philips & Drew lost $200 million in less than two years. National Westminster PLC’s investment banking lost $98 million in 1988."

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