Of all the commentary on the recent financial crisis, I’m finding the BBC’s Robert Peston’s analysis the clearest, least histrionic and well written.
Stuff like this:
“And here’s what should really turn the ECB red with shame. Just possibly it has needlessly bailed out the global hedge-fund industry.”
“What worries me is that ECB and Brussels politicians will become so embarrassed by their neurotic intervention that they’ll learn the wrong lessons.
The correct response would be to improve information-gathering on the hedge-fund and associated banking industries.
The wrong, futile and more likely response would be to attempt to shut down the hedge-fund industry in the eurozone.”