I listened to a lot of depressing media coverage over the last 2 days regarding the additional €24bn for the banks, and I was wondering if its a case of bad news again being given more hype than it deserved?
After all, this Black Rock crowd apparently were using the worst case scenario figures, and the €24bn figure was if house prices fell another 35% and X amount of people defaulted.
But what if this doesn't come to pass? What if prices fall just 5% more, and less people default on their mortgages than BR think will? Surely this 24bn figure will not be the true figure. Its not needed right now this week afaik.
Perhaps I missed something?
Or is it a case of why should we let the truth get in the way of a good/bad news story.
After all, this Black Rock crowd apparently were using the worst case scenario figures, and the €24bn figure was if house prices fell another 35% and X amount of people defaulted.
But what if this doesn't come to pass? What if prices fall just 5% more, and less people default on their mortgages than BR think will? Surely this 24bn figure will not be the true figure. Its not needed right now this week afaik.
Perhaps I missed something?
Or is it a case of why should we let the truth get in the way of a good/bad news story.