conceptualizer

October 9, 2007

Confidence Needed

A vital element of any market based system, especially those trading nonessential items, is confidence. Firstly, confidence in the reliable operation of the market place and secondly that the items traded have some stability in value. Lower confidence and fewer people will be prepared to use the market. It seems the significance of this axiom has been lost on the various interested and influential parties in the Northern Rock debacle. They need to refocus on this fundamental. Further, I suggest that reviews and action should be proactive rather than reactive.

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