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Sunday, March 22, 2009

Financial Panic

"We've got to isolate the bad assets," Mr Brown said.

Said like a true Brit. Cut through the hype and just make a simple statement. Panic is not going to help. Hysteria will not add to the resolution of this. I can remember people used to say we only used 10% of our brain. It used to be said over and over. Well, the ten percenters got us into this mess so we do not want the ten percenters to get us out of it. What we need is a group of people who can use more brain power and it will be a global effort. We are going to have to use the best finacial brains around the world to get us out of this bit by bit. Knee jerk reactions, hyped up half truths and generally throwing our skirts up in the air is not going to cut it.

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