If ever there was a day that no one would want to be in one guy's shoes, it was today if the shoes belonged to the Chancellor. No matter what he had to say - and no matter how well he surrounded it - the news was going to be bad. The only question was how bad...particularly in the deficit and borrowing...
The financial markets are going crazy. Venerable institutions are hitting the skids like we've not seen since the Crash of '29. Bankruptcies abound and Central Banks aren't coming in to do the big save. Moral hazard is now a risk once again for the risk-takers. Two things for you to know...
