In reference to the American multi-Billion dollar bank bailout, Mr. Darling reassured us that we will learn from the American mistakes as: “Nothing is worse than coming forward with a plan that isn’t sufficiently developed.” Words of wisdom Mr. Chancellor, but can you please explain why only last week, you had begged the Americans to pass this bailout?
He continued and said that “when WE take action, we take it quickly. Then it works.” I don't follow. Are you saying that the American action was not quick enough? Or else, how are you going to develop a plan sufficiently if you were to do it quickly. Or do you mean that if and when you decide to take an action, you will take as much time as you want and then do it quickly?
BTW, just in case you have not been following the markets; a day after this statement, the UK came up with a nearly identical bailout plan. So far, it has had the same degree of success – none at all.
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