{"id":70188,"date":"2008-09-15T06:39:56","date_gmt":"2008-09-15T06:39:56","guid":{"rendered":"https:\/\/new.dedefensa.org\/index.php\/2008\/09\/15\/la-crise-crescendo-et-fortissimo\/"},"modified":"2008-09-15T06:39:56","modified_gmt":"2008-09-15T06:39:56","slug":"la-crise-crescendo-et-fortissimo","status":"publish","type":"post","link":"https:\/\/new.dedefensa.org\/index.php\/2008\/09\/15\/la-crise-crescendo-et-fortissimo\/","title":{"rendered":"La crise, crescendo<\/em> et fortissimo<\/em>"},"content":{"rendered":"

La crise, crescendo<\/em> et fortissimo<\/em><\/h2>\n<\/p>\n

La crise financi\u00e8re US entre dans une nouvelle phase, crescendo<\/em> et fortissimo<\/em>, avec la situation de l’effondrement de la banque institutionnelle de Wall Street (fond\u00e9e en 1850 par les trois fr\u00e8res) Lehman Brothers. Apr\u00e8s l’\u00e9chec des n\u00e9gociations pour une reprise, le climat ce matin annon\u00e7ait une faillite qui est d\u00e9j\u00e0, avant m\u00eame d’exister, retentissante.<\/p>\n<\/p>\n

L’\u00e9l\u00e9ment nouveau de la crise \u00e0 cette \u00e9tape, apr\u00e8s de multiples \u00e9tapes pr\u00e9c\u00e9dentes, c’est le retrait du jeu du gouvernement US, refusant d\u00e9sormais de prendre \u00e0 son compte le renflouement des divers effondrements de l’institution financi\u00e8re US. C’est ainsi que Jeremy Walters qualifie cette situation ce matin<\/a>: \u00ab\u00a0perdre patience\u00a0\u00bb. La question concerne \u00e9videmment les cons\u00e9quences: que va-t-il se passer pour l’institution financi\u00e8re ultra-lib\u00e9rale, en g\u00e9n\u00e9ral pleine de m\u00e9pris pour toute id\u00e9e d’interventionnisme de la puissance publique, qui a \u00e9t\u00e9 tenue la t\u00eate hors de l’eau depuis plus d’un an gr\u00e2ce \u00e0 l’intervention de la puissance publique?<\/p>\n<\/p>\n

\n

«Like the passing of the dinosaurs, the great beasts of Wall Street are dying off, extinguished by what is now unambiguously the worst financial crisis since the Great Depression.<\/em><\/p>\n<\/p>\n

»Until last night, it had been generally assumed that the US authorities would do whatever was necessary to prevent Lehman Brothers, one of the so-called \u00ab\u00a0bulge bracket\u00a0\u00bb firms of global financial markets, from going under. After all, that’s what they’ve done to date, by guaranteeing the country’s two largest mortgage organisations, providing the wherewithal for an orderly takeover of Bear Stearns, and by making massive amounts of liquidity available to prop up the US banking system as a whole.<\/em><\/p>\n<\/p>\n

»But finally the US Treasury seems to have run out of patience, and or money, and refused to provide the guarantees being demanded by Barclays and others as a condition for acquiring the stricken bank. As a consequence, Lehman’s is expected to file this morning for Chapter 11 bankruptcy protection, the equivalent of a UK administration.<\/em><\/p>\n<\/p>\n

»It’s a huge gamble for Hank Paulson, the beleaguered US Treasury Secretary. He was determined to draw a line in the sand at some point by saying to Wall Street \u00ab\u00a0no more state bailouts\u00a0\u00bb. But nobody knows for sure what the consequences of so doing might be…<\/em>»<\/p>\n<\/p>\n<\/blockquote>\n

Nous progressons donc dans l’appr\u00e9ciation de la chose: «…unambiguously the worst financial crisis since the Great Depression.<\/em>» Alan Greenspan, chronologiquement suffisamment \u00e9loign\u00e9 de sa direction de la Fed<\/em> pour qu’on puisse ne pas trop lui rappeler ses responsabilit\u00e9s dans la situation actuelle, ne prend plus de gants pour qualifier la situation. Dans une interview \u00e0 ABC, reprise par CNN hier<\/a>, Greenspan parle d’une crise financi\u00e8re comme on n’en voit qu’une par si\u00e8cle, du plus grave \u00e9v\u00e9nement financier qu’il ait jamais vu, et d’un \u00e9v\u00e9nement dont il n’imagine pas une seconde qu’il n’aura pas de graves r\u00e9percussions sur l'\u00a0\u00bb\u00e9conomie r\u00e9elle\u00a0\u00bb.<\/p>\n<\/p>\n

\n

«The U.S. credit squeeze has brought on a \u00ab\u00a0once-in-a-century\u00a0\u00bb financial crisis that is likely to claim more big firms before it eases, former Federal Reserve chief Alan Greenspan said Sunday. Greenspan told ABC’s ‘This Week’ that the situation \u00ab\u00a0is in the process of outstripping anything I’ve seen, and it still is not resolved and it still has a way to go.\u00a0\u00bb<\/em><\/p>\n<\/p>\n

»\u00ab\u00a0Indeed, it will continue to be a corrosive force until the price of homes in the United States stabilizes,\u00a0\u00bb Greenspan said. He predicted that would not happen until early 2009, and said the odds of U.S. recession have gone up in recent months. \u00ab\u00a0I can’t believe we could have a once-in-a-century type of financial crisis without a significant impact on the real economy globally, and I think that indeed is what is in the process of occurring,\u00a0\u00bb he said. While recent declines in the prices of oil and food may help avert a recession, he said, \u00ab\u00a0I wouldn’t put my money on it.\u00a0\u00bb<\/em>»<\/p>\n<\/p>\n<\/blockquote>\n

Personne n’a pris le moindre risque pour sauver Lehman Brothers, personne ne semble plus vouloir ni ne pouvoir prendre le moindre risque. L’ironie \u00e9tant de mise chez les commentateurs anglo-saxons lorsque le syst\u00e8me qu’ils ch\u00e9rissent arrive au bord de l’abîme, c’est \u00e0 Madonna et \u00e0 un concert \u00e0 Wembley horriblement mal pr\u00e9par\u00e9 et r\u00e9alis\u00e9, qui contribuera \u00e0 \u00e9roder la confiance qu’on a dans le talent de cette artiste, que se r\u00e9f\u00e8re Stephen King<\/a> pour qualifier la situation, avec justement cette pr\u00e9cieuse vertu envol\u00e9e, – la confiance:<\/p>\n<\/p>\n

\n

«What do a Madonna concert and a banking crisis have in common? Not much, you might think. But, as I sat through an excruciating performance of \u00ab\u00a0Borderline\u00a0\u00bb in Wembley Stadium on Thursday night, I realised that Madonna and mammon go together rather well. The common link is trust (or its loss)<\/em> […] This issue of trust is a problem across a wide range of markets. Information failures can destroy markets remarkably quickly. Financial markets, in particular, rely on trust. Indeed, those familiar with the banking system know that it depends entirely on trust…<\/em>»<\/p>\n<\/p>\n<\/blockquote>\n

Nous voici une fois de plus devant le pr\u00e9cipice, \u00e0 chaque fois un peu plus pr\u00e8s. Plus personne ne croit \u00e0 la sauvegarde de la chose. La psychologie est en crise, comme la finance et comme le syst\u00e8me lui-m\u00eame. Pour l’instant, nous remisons \u00e0 l’arri\u00e8re-plan et en pages int\u00e9rieures notre concert de sinistres pr\u00e9visions concernant l’\u00e9conomie russe parce que la Russie refuse de s’aligner sur les vertus imp\u00e9ratives du syst\u00e8me occidental.<\/p>\n<\/p>\n

Hier soir<\/a>, le Financial Times<\/em> annon\u00e7ait: «Les banques de Wall Street se battent pour leur survie<\/em>». Derri\u00e8re Lehman, en attente de la catastrophe, les autres, avec Merrill Lynch d\u00e9j\u00e0 en situation d’urgence. Le syst\u00e8me se bat pour sa survie.<\/p>\n<\/p>\n

Mis en ligne le 15 septembre 2008 \u00e0 06H44<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"

La crise, crescendo et fortissimo La crise financi\u00e8re US entre dans une nouvelle phase, crescendo et fortissimo, avec la situation de l’effondrement de la banque institutionnelle de Wall Street (fond\u00e9e en 1850 par les trois fr\u00e8res) Lehman Brothers. Apr\u00e8s l’\u00e9chec des n\u00e9gociations pour une reprise, le climat ce matin annon\u00e7ait une faillite qui est d\u00e9j\u00e0,… <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[3476,3228,3541,3235,3372,3014,3132],"class_list":["post-70188","post","type-post","status-publish","format-standard","hentry","category-bloc-notes","tag-brothers","tag-crise","tag-greenspan","tag-lehman","tag-street","tag-systeme","tag-wall"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/posts\/70188","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/comments?post=70188"}],"version-history":[{"count":0,"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/posts\/70188\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/media?parent=70188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/categories?post=70188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/tags?post=70188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}