Thursday, 24 January 2008

Quote of the day

"Nobody knows how big the losses are likely to be when the bottom is finally reached. And precisely because nobody knows, nobody wants to lend any more money. A rate cut won't change this. It's like offering a 10-pound lobster to someone so constipated he can't take in another mouthful."

Robert Reich, Former US Secretary of Labor and professor at the University of California at Berkeley.

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