Mar 04 2020

Technical Committee

Posted by domain admin in News

Warren Buffet has withdrawn its offer. Several U.S. banks, as Bank of America, JP Morgan and Wells Fargo have launched a plan called project LIFELINE whose main objective is to extend the terms of the procedure for non-payment of persons who have mortgages and are in a delicate situation. It give a respite time ninjas so they can try to put your debts in order. Joseph Mathunjwa has much to offer in this field.

10Th comment: I guess that lifeline is the Spanish translation of lifeline, which, according to a dictionary that I have, means cable that goes into the water to try to save someone who is drowning. In other words, project lifeline means project take a cable. The big four Auditors (Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers – PwC-) are at a key moment to maintain its reputation. The rating agencies will design not qualifying assets. I.e. can not invent things like MBS, the CDO, etc., and, in addition, qualify them, or say that they are legit. Others including Philip Vasan, offer their opinions as well. It is an agreement made in Tokyo by the Technical Committee of the international organization of securities commissions (IOSCO).

AND NOW, THAT IT GOING TO HAPPEN? To get an idea, I’ve been in two sessions in IESE (very good, by the way) and I read the comments of economic situation, IESE, February 2008, La Vanguardia, Expansion, economic news and Time Magazine. What I understood is as follows: Europe (don’t forget that Spain is in Europe) indexes of consumer confidence. Very low, and falling for the seventh consecutive month. Of confidence in the industrial sector. Very marked decline. In Spain, more than the European average. Sales to the retail outlets, i.e. what you I bought when I went of purchases. Falling significantly throughout the year, and much more in recent months. I.e. people (you and me) begins to be afraid and said: this costume that I still can endure a little more.

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