tag:blogger.com,1999:blog-4603671964375308054.post4622671894733582931..comments2023-10-25T14:11:36.159+01:00Comments on UoEdinburgh Economics Blog: World without the risk-free bench markā¦Jonathan Thomashttp://www.blogger.com/profile/08626009446667963689noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-4603671964375308054.post-7076597117770118882011-09-22T00:55:34.473+01:002011-09-22T00:55:34.473+01:00What an utterly idiotic piece of drivel. You were ...What an utterly idiotic piece of drivel. You were obviously not either in Wall Street or in London when the downgrade occurred, or obviously you're no brain box as well.<br /><br />I was there when our bank got the call after trading had ended. My MD simply said, 'ah, nuts, thanks **** (name would be inserted here).<br /><br />No one believed S&P, we all thought it was pretty grim, but we knew from the day's trading that what the S&P did was simply the end of a logical consequence of actions taken by numerous parties -- from the CB, to Buy/Sell parties, etc.<br /><br />The panic which got underway had very little to do with the downgrade then fund managers worrying and investors worrying as well. There was a market correction and that was that.<br /><br />You make it seem so dramatic, someones watching a bit too much CNBC.Anonymousnoreply@blogger.com