Monday, June 29, 2009

BIS Urges Central Banks and Governments to Develop Exit Strategy.


BIS Urges Central Banks and Governments to Develop Exit Strategy.


The Mother of all Central Banks says in a report issued today:
  • "it is so bloody complicated, no one understands what is going on" and
  • "without a healthy banking system, forget about green shoots"
  • "the result of the change in accounting rules is for the banks to put forward losses hoping in the meantime that the economic circumstances will improve"
  • "too big to fail is too big to exists"
  • "Banks and Governments: what is your exit strategy?"
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