Tuesday, January 20, 2009
pricing in nationalization
meanwhile the incredible rout of the british pound took another serious leg down today, and whipsers of a currency crisis are now growing into shouts as the government faces nationalizing RBS, HSBC and barclays all -- individually and collectively enterprises with balance sheets far larger than the government.
if this run on sterling continues to gain momentum, we could be looking at what would be recalled as a, perhaps the defining event of the panic. jim rogers, with his usual blunt flair, thinks the UK is "finished".