Comments on: Central Banks offer temporary assistance http://www.johnredwoodsdiary.com/2007/08/13/central-banks-offer-temporary-assistance/ Conservative Party Member of Parliament for Wokingham Fri, 10 Oct 2008 22:15:27 +0000 http://wordpress.org/?v=2.6.2 By: Steven_L http://www.johnredwoodsdiary.com/2007/08/13/central-banks-offer-temporary-assistance/#comment-4790 Steven_L Mon, 13 Aug 2007 22:00:03 +0000 http://www.johnredwoodsdiary.com/?p=414#comment-4790 I see the Express today had what was effectively 'a laymans guide as to why you should blame the hedge funds.' The Sunday Telegraph had a similar article, largely in cityspeak that guys like me have to spend hours on wikipedia deciphering. Now I'm no expert on these things, far from it, but what about banks who lent the 'dodgy' mortgages then packaged the risk off? What about the people who assess and rate the risk? What about the people that borrowed high multiples of their salaries at low rates of interest? It seems unfair to point the finger all in one direction to me. I guess an elite group of hedge fund managers are a popular hate figure. Reply: you make very powerful points I see the Express today had what was effectively ‘a laymans guide as to why you should blame the hedge funds.’ The Sunday Telegraph had a similar article, largely in cityspeak that guys like me have to spend hours on wikipedia deciphering.

Now I’m no expert on these things, far from it, but what about banks who lent the ‘dodgy’ mortgages then packaged the risk off? What about the people who assess and rate the risk? What about the people that borrowed high multiples of their salaries at low rates of interest? It seems unfair to point the finger all in one direction to me.

I guess an elite group of hedge fund managers are a popular hate figure.

Reply: you make very powerful points

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