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Byline: Paul Busharizi
GLOBAL FINANCIAL CRISIS
They say you know who was swimming naked when the tide falls.
The financial crisis continues to deepen despite best efforts of western central banks to control it. There has been some recovery on world stock exchanges in reaction to pledged rescue packages and slashing of central bank lending rates to the banking industry, but observers think more has to be done before we have a sustained rally.
The tag team action by world central bankers means the crisis will be shorter than it would have been, had world markets been left to their own devices. However, the crisis may not play itself out in a few weeks, months or even years.