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07 November 2008


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Marc Wright

Heresy I know, but how much credibility can you give to absolute figures? It's absolute figures that valued certain banks at $50bn a year ago that have been sold for $2bn recently. As communicators we bow down before the numerists - but post credit crunch who are you going to believe? The credit rating agencies or the quality of service you receive when switching your account?
The US rescue plan that was rushed through the Congress was appalling communicated. It was only the a small clause in the small print that allowed them to redirect the billions from soaking up toxic debt to the more logical step of buying bank's shares. It took a politician rather than a banking expert to make the right call.
Tracking figures makes sense during stable times, but when things go awry (remember inflation in the Weimar Republic) it's the orators, not the accountants that haver the biggest impact on the progress or decline of human happiness and progress.

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