Friday, October 10, 2008

ooops, sorry

You might have noticed the world's financial system unraveling out there. Not just in the US. Check out Iceland, with all of its three big banks going belly-up.

And Korea is hurting too, its stocks down 36% this year. So what does Korea's Finance Minister Kang Man-Soo have to say about this fine mess as he goes to Washington for routine-turned-emergency World Bank/International Monetary Fund meetings?

"The United States almost forced the rest of the world to open up their financial sectors. It has been telling the world that its derivatives are an advanced technique created by some genius."

Hmm, I guess we DID do that, didn't we?




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