It doesn't make sense... Remember, people who write for Reuters are journalists, rather than treasurers/repo traders. Yes, they're better quality journalists than, say, certain bloggers that shall remain namelss. However, pls, I implore you, treat all the pronouncements that all journos make with a large pinch of salt. And yes, I agree there's definitely an austerity contraction occurring in the EMU (as well as the UK, for that matter). My point is that we'll have to see whether, in the long term, it ends up being a good thing or a killa.
The article was published by Reuters Business Law section on December 7, 2011. The author was Chris Elias who is a former Soliciter in the U.K. and and an editor of the Business Law Research group at Reuters...here is the link to the article: http://newsandinsight.thomsonreuter...d_the_great_Wall_St_re-hypothecation_scandal/
You don't mind explaining to me why it doesn't make sense, do you? Your argument that it is 'journalism' just doesn't seem to be enough. I don't mean to challenge you. I thought it did make sense when I read it. You said it doesn't make sense. Can you straighten me out or share your reasoning in a way I can consider rationally?
I'll happily do it, Ed... Is it OK if we discuss this tomorrow? It's getting late here and I am gonna be getting out here shortly.