The FT has just published this.
London equities tumbled on Friday extending the FTSE 100's decline to five-consecutive days during which the senior index lost a fifth of its value.
Banking stocks once more faced heavy selling as confidence in the international financial system continued to drain away, taking the market to fresh five-year lows.
There is no choice: only nationalisation of the banks will solve this problem now. The system has failed, but we need it so we can reform it.
Get the banks out of the market, and force them to lend. It is the only way forward. When the market has ceased to exist why pretend there is an alternative?
And at least the option is getting cheaper by the day.
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