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24 comments on The Finance Round-Up: September 28th 2007
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Looks like the whole system could lock-up with no one being able to make a move without bringing the roof down. Meanwhile, the foundations of the financial system are also eroding away beneath their feet forcing them into ever more risky manoeuvres.
Nail biting stuff :)
The whole thing locking up is indeed on the cards, and the desperate actions taken to keep things going only postpone (and aggravate) the inevitable. IMO the logjam that's forming will burst once we see asset firesales, as that means marking those assets to market rather than to model. Even one such sale - with assets going for pennies on the dollar, or worse, with no bids at all - would call whole asset classes into question virtually overnight, leading to an every-man-for-himself rush for the exits. We live in dangerous times.