|
|
 Email |  Discuss | Get latest news on your desktop
What the world's big guns say about the meltdown
October 17, 2008
It's a good warning for the Chinese economy, but I believe China will make the exact same mistake in future: Kelly Yu, Chinese citizen
You can't just blame the banks, you also can blame the people that took out mortgages... We were brought up that you first had to put some savings together and then enjoy. But this whole society has gotten to the fact that we're a 'now, give it to me today' kind of society. I think regulation has not been adequate. There's no one person to blame other than all of us: Mike Bloomberg, mayor, New York, former Wall Streeter, founder, financial services company Bloomberg
My own view right now is that cash is king; liquidity is king: Don Marron, US billionaire
The Wall Street crisis has been caused by the years of excesses and the fee-based economy where the only goal is to make fees at any cost without any benefit to the economy: Carl E Berg, US billionaire
We have counted on emerging economies, which collectively account for half of global GDP, to hold up. However, with the credit crisis reaching shores of emerging market countries, their growth is now likely to fall well below trend by the end of the year: Moody's Economy.com
Image: Mayor of New York Michael Bloomberg. | Photograph: Cate Gillon/Getty Images
Also read: History's greatest financial fall: How it began
| Live updates on money.rediff.com |
|
|
|
|
Advertisement
