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date: Mon, 29 Sep 2008 20:45:09 GMT,    group: uk.current-events.terrorism        back       
London markets crash as dollar records biggest gain in 15 years...   
Show us gullible Americans how its done Hippy, when your government 
starts sinking billions of tax $$$ into propping up sinking enterprises.
Let us see the pics of you, stalking down the streets with a noose in 
one hand, pitchfork in the other, ready to divvy out instant justice to 
crooked businessmen and lackey politicians who are playing lose and easy 
with your hard earned cash.
Still splitting your side laughing ?
Fact is - You will swallow the shit fed to you whole, without even 
chewing, because theres not a damn thing you can do about it, so get off 
your high horse already.

```````````````````````````````````````````````````````````````````````````

Central banks around the world unveiled a plan to pump massive amounts 
of cash into the global banking system in a concerted effort to boost 
market confidence and inject liquidity into the global markets.

The move followed a fall in the Dow Jones of nearly 300 points in 
morning trade to 10,869 as the market took fright at several bank 
nationalisations in Europe and the US despite the approval of the "son 
of Tarp" — the Troubled Asset Relief Programme —bailout. The FTSE 100 
index of leading shares was down almost 5 per cent, taking it to a new 
low for the year and below the psychologically significant threshold of 
5,000.

As nine central banks used currency swaps to oil the wheels of dollar 
liquidity in the money markets, sterling plunged and was on course for 
its steepest one-day drop against the dollar for at least a decade and a 
half.

This was in response to the nationalisation of Bradford & Bingley (B&B), 
the stricken UK mortgage bank, which fuelled markets' fears over 
Britain's battered banking sector and the fallout for its economic 
prospects.

In the US, the Dow Jones fell nearly 300 points in morning trade to 
10,869 as the market took fright at several bank nationalisations in 
Europe and the US despite the approval of the "son of Tarp" — the 
Troubled Asset Relief Programme —bailout.

US Treasury debt staged a meteoric rally as investors scrambled for the 
safe haven of American government securities. The 30-year Treasury 
bond’s price rose more than three points. The flight to safety was even 
after the Federal Reserve said it would substantially increase currency 
swap limits to $620 billion (£342 billion ) with nine leading central 
banks in response to short-term strains in the money markets.

In its latest severe sell-off, the already sharply weaker pound 
plummeted by almost 5 cents against the dollar today compared with its 
level at the close of New York trading on Friday.

The fall of more than 2.5 per cent in sterling saw it tumble from 
$1.8445 to levels below $1.80, taking it to a 10-day low of $1.7962. The 
pound has now shed almost 11 per cent against the greenback from peaks 
above the watershed of $2 reached at this time last year.

The price of Brent crude fell more than $5 a barrel to $98.05, its 
lowest level for almost six months.

Markets were anxious about Britain's fast deteriorating economic outlook 
and the stability of its banking sector as B&B followed Northern Rock in 
being nationalised. The worries followed the fire sale of HBOS, the 
nation's biggest mortgage lender to Lloyds TSB, and led to the London 
stock market succumb to a fresh hammering of its leading shares.

The FTSE 100 index of British blue chip stocks closed down by 253 
points, or 4.97 per cent, taking it below the psychologically 
significant threshold of 5,000 to 4,835.45 and to a new low for the 
year, down 28 per cent from the 6,730.71 level it reached on October 12, 
2007.

The steep sell off of sterling and London shares came as agreement 
reached on Capitol Hill on a proposed $700 billion rescue plan for the 
US banking system was overshadowed by the latest woes for British and 
continental European banks. As well as B&B, the Belgian, Dutch and 
Luxembourg Governments nationalised parts of Fortis, the European 
banking and insurance giant, and agreed to inject €11.2 billion into the 
group.

Iceland's government also took control of Glitnir, that country's third 
biggest bank.

Analysts said the developments switched attention back to the 
international nature of the banking and financial upheavals spawned by 
the credit crisis.

"I think there has been a very lax attitute over the last couple of 
weeks ... [suggesting] it's been seen as a purely US-centric problem," 
Jeremy Stretch, of Rabobank, said.

"We've gone from a piecemeal response in the US to something more 
substantive with the bailout package. Whether it works or not is a 
different matter."

The euro also fell heavily against the dollar amid concern over the 
eurozone's banking strife and the adequacy of arrangements for bank 
rescues in the 15-nation bloc. The euro lost as much as 1.8 per cent 
against the dollar, falling to levels of about $1.4340 from a US close 
of $1.4613 on Friday.

Tokyo’s Nikkei 225 index was down 1.3 per cent at 11,743.61, and Hong 
Kong’s Hang Seng Index shed 2.1 per cent to 18,286.90.

“They’re worried that another fire is starting in Europe,” said Castor 
Pang, an analyst at Sun Hung Kai Financial in Hong Kong.

http://business.timesonline.co.uk/tol/business/markets/article4844255.ece
date: Mon, 29 Sep 2008 20:45:09 GMT   author:   Jesse

Re: London markets crash as dollar records biggest gain in 15 years...   
"Jesse"  wrote ...

> Show us gullible Americans how its done Hippy, when your government
> starts sinking billions of tax $$$ into propping up sinking enterprises.
> Let us see the pics of you, stalking down the streets with a noose in
> one hand, pitchfork in the other, ready to divvy out instant justice to
> crooked businessmen and lackey politicians who are playing lose and easy
> with your hard earned cash.

It would be awfully wrong of me to go around killing people on a personal
vendetta would it not ?


> Still splitting your side laughing ?

I am actually, but you'll not understand the nature of self-deprecating
humour and its ilk. Way out of your league of understanding or you wouldn't
even need to ask.
date: Mon, 29 Sep 2008 21:54:43 GMT   author:   The Happy Hippy

Re: London markets crash as dollar records biggest gain in 15 years...   
The Happy Hippy wrote:
> "Jesse"  wrote ...
> 
>> Show us gullible Americans how its done Hippy, when your government
>> starts sinking billions of tax $$$ into propping up sinking enterprises.
>> Let us see the pics of you, stalking down the streets with a noose in
>> one hand, pitchfork in the other, ready to divvy out instant justice to
>> crooked businessmen and lackey politicians who are playing lose and easy
>> with your hard earned cash.
> 
> It would be awfully wrong of me to go around killing people on a personal
> vendetta would it not ?

Totally a personal decision, if the victims were right I might even give 
you some props.
Of course, if you had guns like me you'd do a much better job of it.

>> Still splitting your side laughing ?
> 
> I am actually, but you'll not understand the nature of self-deprecating
> humour and its ilk. Way out of your league of understanding or you wouldn't
> even need to ask.

Oh yes, the much ballyhooed and talked about British humor, of course.

http://www.dailymail.co.uk/news/article-404792/The-death-British-humour.html
date: Tue, 30 Sep 2008 04:18:02 GMT   author:   Jesse

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