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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: stan_hughes who wrote (342661)	9/4/2007 4:49:36 PM
From: Real Man	Respond to of 436258

Everclear 195 proof is fine -g-

To: stan_hughes who wrote (342661)	9/4/2007 7:09:04 PM
From: Secret_Agent_Man	Read Replies (2) \| Respond to of 436258

Central Banks Ignoring Money-Market Dangers: Chart of the Day 2007-09-04 08:09 (New York) Sept. 4 (Bloomberg) -- The recent surge in money-market interest rates is a warning signal that central banks are failing to acknowledge, according to Patrick Perret-Green, a strategist at Citigroup Inc. in London. ``Central banks don't know how to deal with the current situation within the confines of their existing rule books,' Perret-Green wrote in a research note today. ``Rate cuts are inevitable against this background.' The chart of the day shows the gap between the Bank of England's benchmark interest rate and the three-month rate in the U.K. money markets, known as the London interbank offered rate. "Three-month Libor was set at 6.80 percent today, the highest level since December 1998, driving the gap with the central bank rate to 105 basis points, its widest in at least 20 years. ``The current situation is unprecedented in recent financial history,' Perret-Green wrote. ``The spread has occasionally been as wide, but this was back in the late 1980s when rates were moving dramatically higher and interest rates moved in 1 percentage-point steps. The risk of a significant failure is building. Central banks don't seem to recognize the dangers." gata