Google Gets You Behind a Market Crash

Lots people are pointing to an IHT interview last Friday with Christian Noyer, governor of the Bank of France, as an impetus for today’s European market meltdowns. In the interview he said that he was "reasonably confident" about things, even if French banks are still marking down assets. The trouble is, he then went on to name names, saying that we looking at the SocGen and BNP Paribas balance sheets.

Or did he? Because in the current version of the story on the IHT website all mentions of any specific bank names are gone, as is that part of the discussion. There is no mention that he story has even been edited. Through the wonders of Google’s cache, however, we can go back and see the version the IHT version that appeared on Friday, and compare that to the version on the site today.

New version:

Noyer, who sits on the Governing Council of the European Central Bank in Frankfurt, is also chairman of the French Banking Commission, which regulates the sector in France.

As such, he said he has been assessing the balance sheets of all the big French banks before they reveal their 2007 results over the next month or so.

Old version (with words missing from new version marked in red):

Noyer, who sits on the Governing Council of the European Central Bank in Frankfurt, is also chairman of the French Banking Commission, which regulates the sector in France.

As such, he said he has been assessing the balance sheets of banks like Societe Generale and BNP Paribas before they reveal their 2007 results over the next month or so.

Hmmm, interesting edits.

Related posts:

  1. Sorry About the Stock Market Crash
  2. Can There Be a Market Crash If China Doesn’t Come?
  3. Why isn’t Corporate Banking a Seller’s Market?
  4. The Trouble with Credit Market Alarmism
  5. Google Trends on the Real Estate Crash

Comments

  1. dub dub says:

    doubleplusungood crimethinkful google cache rectify
    – O’brien.