World Leaders May Close Markets

World Leaders May Close Markets

www.bloomberg.com

Oct. 10 (Bloomberg) -- Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the world's financial markets while they ``rewrite the rules of international finance.''

``The idea of suspending the markets for the time it takes to rewrite the rules is being discussed,'' Berlusconi said today after a Cabinet meeting in Naples, Italy. A solution to the financial crisis ``can't just be for one country, or even just for Europe, but global.''

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This can't be good no matter what way you look at it ... things must be dire ...

It just goes to show how bad things really are that they would even consider closing the world markets.

At least Australia are now going to guarantee all savings accounts for the next 3 years .. that makes me feel much better.

www.bloomberg.com
(visit the link for the full news article)

I hope they'll close it forever. Stock market is nothing more then the greatest legalized thief guild on the planet. While ordinary people are working so hard day by day, some morons are getting money on the stock market gambling game, then if a glitch falls into their game, the ordinary people are paying for their mistakes. The stock markets should be closed forever and buried with the sand of history.

reply to post by Sheridan


I think you're confusing a bank bailout with the stock market. When the government takes controlling interest in a bank or the FDIC seizes it, the shares lose value and the investors (retirement funds and private investors) take the hit. Nobody is bailing out the stock market.

can't believe this stuff is actually happening, what a rude awakening to the new generation

reply to post by mythatsabigprobe

That's true, but the stock market is also based on and relying on the banking system. If the banking system would be in deep danger, the stock market wouldn't be in danger. The stock market is the child of the banking system. No stock market, no banking system. Period.

In the stock market, one standard company cannot bring the whole world to bankrupt, however one bank is able to do that, bring many companies to bankrupt via the stock market. We experienced this two times. 1929 and 2008. So the weak point is the banks and from that also the stock market. Also the governments should bailout the companies and not the banks.

The stock market is the real playground of the banker elites.

[edit on 12-10-2008 by Sheridan]

reply to post by Sheridan

I hope they'll close it forever.

LOL - your wish may come true if the Italians have anything to do with it! Trust me, in my travels I have found the Italian government to have one of the worst bureaucracies on the planet. They invented the term 'red tape' I am sure, and it will take them one year just to decide what time they will have lunch!!

So, let's hope it is the Italians re-writing the rules, because I can assure you it will be a long time coming.

I had already posted a thread for this yesterday.

www.abovetopsecret.com...

Not sure what the procedure is now....