God Save the Queen - She is Saving Us
Paul Krugman, The New York Times | October 13, 2008
Gordon Brown and Alistair Darling "have shown us the way through this financial crisis." ++ The British Prime Minister and his officials lead the world in assessing the financial crisis and quickly enacting an apt solution. ++ The problem: lack of capital in the banking system; Brown's solution: equity injections, a type of temporary nationalization, with the first commitment of funds coming to banks today. ++ The continent is following suit, injecting funds into European banks, and even Paulson is now beginning to see the light.
Tags: | Gordon Brown |
Alistair Darling |
EU |
UK |
US |
Paulson |
financial crisis |
equity injections |
central banks |
credit |
markets |
economy |