Sunday, December 2, 2007

You'd Be Snooty Too If...............

"The snooty attitude that we have sometimes seen under the motto of `we are cleverer than the others' ended in disaster," commented German Finance Minister Peer Steinbrueck this morning. When asked who was to blame for the global credit squeeze, Peer pointed his finger at the banking community itself.
If it weren’t for “snooty” bankers and their opaque balance sheets, we wouldn’t be in this mess. Heh. This is funny stuff.
"Months have gone by since the end of July, and some managers still don't know what the impact is on their accounts,” said Steinbrueck, fed up with the bankers who refuse to admit mistakes, thus keeping world markets in limbo…

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