Monday, October 31, 2005
How to Fix a Problem Market . . .
Depending on what you mean by "fix."
Iran's President Mahmoud Ahmadinejad confronts a problem with Iran's stock market:
To reply, email texthepontificator at yahoo dot com.
Iran's President Mahmoud Ahmadinejad confronts a problem with Iran's stock market:
Iran’s ultra-Islamist President first sent jitters through the country’s markets when he said on the eve of the presidential elections in June that “stock exchange activities are a kind of gambling and we are against them”. Gambling is banned in Islam.And here's his proposed solution:
Nervous investors have been transferring their capital to other countries, and Dubai has benefited palpably from the flight of capital from Iran. The Tehran Stock Exchange has lost 20 percent of its value in the past four months.
Frustrated with the inability of his economic advisers and experts to come up with any solution, Ahmadinejad told them that the only way out of the current stock exchange and financial market problems was to “frighten” speculators by hanging two or three of them.By golly! That will get results. Not necessarily good ones, but definitive ones. Let's hope he gets on with it. The sooner he drives Iran's economy into the toilet, the sooner his regime will disintegrate.
To reply, email texthepontificator at yahoo dot com.
// posted by Tex the Pontificator @ 10/31/2005 08:43:00 PM 
