Our Recapitalization, Your Problem

by Dollars and Sense

Looks like the collateral damage burden of the largely Western fight to save the global financial system may be shifting somewhat to the usual victims:

From the Financial Times:


Financial crisis stalks new victims
By Peter Garnham
Friday Oct 17 2008 14:15


The next leg of the turmoil gripping global financial markets could see the currencies of some emerging market commodity producers plunged into crisis.


Until recently, emerging market currencies have held up well as the focus of markets was the turmoil wrought by problems engulfing the financial system in the developed world.


However, as the credit crisis reached a crescendo over the last month, emerging markets' currencies began to come under pressure as foreign investors facing liquidity problems at home repatriated funds.


Read the rest of this article

Labels: Emerging markets, financial crisis bailout

 

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10/18/2008 10:58:00 AM