
The result will be a rush of new account openings for those left standing: equivalent to - or more than - any mooted investment by the government. It will also put manners on those that survive to ensure they don't confuse property-backed pawnbroking with real banking again. Perhaps.
As for the energy sector, it has never been cheaper to get into. The chart - from the BBC news site - shows that the price of oil is now a third of its peak just a few months ago. The knock on effect on shares of energy companies has been severe. But there's the thing: the upside from an investment in energy companies - and those supplying specialist services and equipment to them - will be a better long term bet in terms of shareholder value. As argued in Fortune recently, the IEA's report World Energy Outlook 2008 is a 578 page recommendation to buy oil stock.
The work of the folk at Energy Scenarios Ireland shows that the current price falls are but a temporary aberration on the way to a far more expensive energy future. As I've said before - it's a window of opportunity for our country: and ultimately more important than the fate of a few developers and their bankers.
Best post I've read here. Bravo.
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