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Wall Street Journal Says We're "Not Out of the Woods Yet"
Sep 22 07
The Wall Street Journal says we're "Not Out of the Woods Yet". Saturday's breakingviews.com-written piece says, "It is tempting to hope the worst is over. But this truce is extremely fragile. Conditions in the money markets are improving, but only slowly. So it could take months to get back to normalcy," says the article. It adds, "The sense of crisis is also receding from the commercial-paper market.... The amount of commercial paper outstanding collapsed by some $200 billion in a few weeks. It is still shrinking but only at a trickle."
