plausibel

Hi guys.

this week we have some "light entertainment". I found this little film about how all the strings (could) get together to fabricate what we call "the credit crunch". Needless to say that in a 10 minute animation one can hardly explain anything in great detail. Nevertheless I have found it quite interesting and very entertaining. The creator raises some interesting issues; on the other hand it seems that he draws a lot of conclusions about causality, in other words, whose "fault" this whole mess is.

I want to emphasize, before you watch the clip, that people respond to INCENTIVES. Suppose there is an action which a person could take: it is known to be very risky and even dangerous to the entire system, but it promises enormous profits if successful.

I hope you are doing fine. The snow is gone and London is as grey/green as ever - everything back to normal.

As normal as it can get those days, that is. And apart from the weather, there are few things you would label "normal" around here. (it's raining, obviously.) Just consider the Bank of England (BoE), whose monetary policy committee last week in a historic motion slashed the interbank lending rate - what we commonly call "the interest rate" - to 1%. Unheard of.

this week has seen some spectacular action in the UK. We started off with heavy snowfalls in sunday night, covering London and the southeast of the country by as much as 20 cm of snow. In a country where the transport infrastructure is prone to failure caused by gusts of fallen leafs, it is not hard to imagine the consequences: In fact, London was down by monday morning. For the first time in living memory the London Buses network was suspended from service.

I hope this message finds you well.

For all those of you who

want to brush up their English,wonder about what the heck is happening these days with the world, related to events headlined by "global financial crisis",have recurring spells of boredom during a typical day,I present the first email of a potentially to be continued series named "Letters from London (LfL)", where I will try to provide the reader with digested and selected information (i.e.