Economist forecasts central bank action

[Joanne98]

Central banks and governments in advanced economies will be forced to buy mortgage-backed securities within the next few months to stop the credit crisis, according to a former chief economist of the European Bank for Reconstruction and Development.

“Central banks will be managers for years to come of rather interesting portfolios,” predicted Professor Willem Buiter of the London School of Economics, as the Federal Reserve and the Bank of England sought to play down conversations officials have had regarding purchases of mortgage-related assets.

The Financial Times reported on Saturday that conversations had taken place concerning such plans, as part of a broader, early-stage exchange as to possible future steps in battling financial turmoil.

The fact that such a move is being discussed at all indicates the depth of concern that exists over the health of the banking system.

http://www.ft.com/cms/s/0/7816b7d8-f90e-11dc-bcf3-000077b07658.html

[sam sarrha]

1. check this link>>> and see how this fits...

this was designed to wreck the middle class, bust unions and repeal all New Deal Social advancements, see the "Shock Doctrine:the rise of disaster capitalism" Naomi Klein... they are supplying the disasters too
http://www.brasschecktv.com/page/291.html

here is some other crap the Bu$h Crime family got away with at our expence
http://www.bushwatch.com/bushmillions.html

[enid602]

2. embarrassment

This is such an embarrassment to us; foreign countries having to save us (and themselves) from our greed. One thing's for sure, though. We won't be able to continue to enjoy cheap credit.