[quote]Neuromancer wrote:
Do I somehow come across as American?
I think what we are seeing is possibly the first worldwide coordinated response to a financial crisis.In this particular instance you have seen the American govt. follow the European lead in how to attempt to deal with the credit crunch by taking equity positions in leading banks.This was not on the table until Europe took the bailouts in that direction.It was of course done before in Sweden in the early 90’s (if memory serves),with pretty decent results.
So what that tells me is that the US is quite prepared to follow if the path appears sound,and that everything financial is now so interlinked worldwide,that if one sinks,the rest suffer mightily.
Time will tell if the approach works.But the concept that an across the board financial collapse a la the 30’s will not be allowed to happen is quite clear in my mind.
For the record,I’m Spanish,and I believe in the European method of doing things.[/quote]
In this case, yes.
As a European I am glad that our economy is not that closely linked to theirs and that we have a halfway sound real economy.