15 January, 2009

Arrest bad news prognosticators?

Los Angeles Times
He foretold the collapse of Lehman Bros., the U.S. investment bank, and anticipated the resulting plunge of the South Korea currency, the won, all the while castigating policymakers for their blunders.

But prosecutors say Minerva crossed the line.

In a Dec. 29 posting, the online commentator wrote that the South Korean government had ordered financial institutions to stop buying dollars in order to curb the won's fall against the greenback.

The posting devastated the local foreign exchange market, forcing the nation's financial authority to spend $2 billion of its reserves as the demand for dollars surged wildly, prosecutors claim.

3 comments:

ColOman said...

he got a couple of predication right............... that makes him good but not a criminal................ he as was said to be a prophet and now a crook

Dubai Entrepreneur said...

At times when the market is jittery, such predictions could become reality solely because of the prediction.

I think everyone should be more responsible. In such extraordinary economic conditions, I would say his arrest is the 'right thing' to do.

Anonymous said...

I think everyone should be more responsible. In such extraordinary economic conditions, I would say his arrest is the 'right thing' to do

Seriously?

The world is entering into a recession.

The Saudi’s can say what they will. The UAE can claim that liquidity is stabilizing, but the truth of the matter is, it is not. Banks are no longer giving out loans, in sharp contrast to the ridiculous handouts that went on until a few months ago. The UAE [...]


http://www.dubaiplanet.net/2008/10/28/welcome-to-globalization-recession/

. . .

Guess you're next.

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