GLOBAL AND SUBURBAN
The world's financial markets now find themselves in the front line. They learned that last month in a few hideous minutes. Now they have to adjust to a new and more dangerous world in which they themselves are the targets. They are the elaborate product of an elaborate civilisation, and the technologies by which they have lived and flourished have been turned
against them. .
They are adjusting, as markets do. In that sense, it is business as usual. Their job is to put a price on the balance of risk and reward. They allowed themselves to be carried away with excitement — as, every so often, markets always will — and have suffered for it, but their resource and tenacity speak for themselves. In this special issue of The Spectator, Andrew Edgecliffe-Johnson of the Financial Times reports from the front line in New York. Other contributors to the section: Sir Alastair Morton is retiring as Chairman of the Strategic Rail Authority (SRA). Writing in The Spectator's special Finance Issue:
Lord Hollick of Notting Hill is Chief Executive of United Business Media.
Alison Cottrell is an economist based in London.
Tadashi Nakamae is President of Nakamae International Economic Research.
George Trefgarne is the Financial Correspondent of the Daily Telegraph.
Baroness Hogg becomes Chairman of 3i, Britain's largest venture-capital group, in January. She will be the first woman to chair a FUSE 100 company.
Alastair Ross Goobey is outgoing chief executive of Hermes Pensions Management.
Christopher Fildes has been exploring the City and Suburban areas for The Spectator for 34 years.
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