FT.com - This is hyperfinance. In the space of five frenetic days, stock markets have plunged and recovered; the US Federal Reserve has cut interest rates to 3.5 per cent; so-called "monoline" insurers, revealed as a small but vital valve in the financial machinery, have wobbled; and one J�r�me Kerviel has lost EU5bn for a venerable French bank.
Friday, January 25, 2008
The start of the great unwinding (FT.com)
FT.com - This is hyperfinance. In the space of five frenetic days, stock markets have plunged and recovered; the US Federal Reserve has cut interest rates to 3.5 per cent; so-called "monoline" insurers, revealed as a small but vital valve in the financial machinery, have wobbled; and one J�r�me Kerviel has lost EU5bn for a venerable French bank.
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