Don’t Quote Me (On the Financial Markets)

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Given the current state of the world’s financial markets, we could not find a better quote than that provided, back in July 2007, by Liu Mingkang, the Chinese banking regulator:

    “Only when the tide goes out can you see who is swimming naked! It is essential to take measures in good time”.

Indeed!

Perhaps, as he was referring to risk in the Chinese system, he was already taking those measures…

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