The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: coug who wrote (282384)	10/10/2010 7:01:43 PM
From: Giordano Bruno	Read Replies (3) of 306849

Pimco’s El-Erian Says Economy Chiefs Risk ‘Losing the Peace’ Understanding Financial Services A third challenge is that policy makers have “too little understanding” of how the financial-services sector functions, El-Erian said. They failed to realize how their rescue of banks would spur a recovery in financial markets that outpaces that of households and businesses. U.S. stocks advanced last week, sending the Dow Jones Industrial Average above 11,000 for the first time since before the May 6 crash. “It highlighted once again an outcome that is unacceptable in democratic society: the privatization of massive gains and the socialization of enormous losses,” he said. noir.bloomberg.com

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