I think many are unaware of this situation. For those who read the papers & watch the news, probably have known about the Lehman Brothers & Merril Lynch issue. Those are two big names in the financial industry, and they've failed recently stemming from the credit turmoil in US. And even AIG, which I guess people know as the name printed on MU's jersey, is also in big trouble.
And today in our internal portal, we have the news that almost everywhere in the world, central banks are scrambling to pour money into their financial system to avoid deeper problem. Read the full article here: http://www.reuters.com/article/innovationNews/idUSSP26879920080916?sp=true
To be frank, I'm not an economist and in fact, never studied Economy. I have only just the slightest idea of what teh article is all about. But even by the tone of it, one can feel it doesn't sound good. It points of a big trouble ahead.
But we Malaysians are more concerned about 16/9? I guess we all have our attention at the wrong issue. Because if we have a financial system breakdown, no matter who is in charge in Putrajaya, we'll all be in trouble. Well, unless the person himself has a cash reserve as deep as Bill Gates and contribute big time to the economy. If not, it'll all be just empty promises again.
But I'm sure my colleagues over at the Economics department are focused on their job. Please do.
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