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[FRE07962128]

Maybe very true STMO, but both the Brown and Bush Governments do not seem to have spotted the obvious, which I suppose says it all!!

Of course they knew it was coming - they just didn't want to tell us.  

When have either of them ever issued any sort of warning of bad news?  The entire Neocon/New Labour philosophy seems to have been based on "if you ignore it for long enough, it'll probably go away".

Mr. Micawber would would slot into the UK Cabinet by right.  "Something good will surely turn up..." seems to have been the policy for the past few years.

It's a pity that successive Chancellors haven't been able to follow his other famous dictum:
"Annual income twenty pounds, annual expenditure nineteen nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."

Right enough Jereboam!!

[FRE07962128]

Looks like good news this morning.  The financial "experts" are giving the opinion that this take over deal by the US Government is GOOD news for the UK economy! 8-) 8-)

Let's hope they are correct!!  We need something, apart from a new Government and Brown out, to give our financial futures a boost!

[STMO123]

It will boost stocks and shares in the short term but the underlying problem of lenders being unwilling to make funds available will not be solved until confidence returns.
I wouldn't be surprised to see a dip later in the trading session as profits are taken.

There are still writedowns out there, but nobody is telling.......