Thursday, October 9, 2008

Financial Contagion?

. Thursday, October 9, 2008

Iceland is near bankruptcyCredit crisis hits CanadaBelgium, France, Luxembourg intervening to save bank after bank. The Euro falls to 14 month low as credit crisis spreads throughout Europe. Asian equity markets continue their deep slide.

$700 billion bailout. 50 basis point emergency global coordinated rate cut. Banking deposit guarantees. Governments taking equity stakes in banks (yes, including here in the US). 

Is there any further action that can stem the spread? Can the government do anything? Is this too little too late? Is a global recession inevitable? 


Financial Contagion?
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