It’s not looking pretty

Posted on October 15 2008

This is the last five day's FTSE 100:

I see no sign of a recovery. I cannot see any of the major banks avoiding outright nationalisation. Their losses from the real economy will require it. They haven't got the capital left to support business. The market is pricing that fact.

So why not get on with it?

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2 Responses

  1. Georges says:
    October 15 2008 at 8:47 pm

    Richard,

    Note:

    The market is pricing that fact

    Yup, that is what they do best.

  2. Tax Research LLP says:
    October 15 2008 at 10:36 pm

    Georges

    Sometimes. Only sometimes.

    Richard