Media Unexpected Metaphor of the Day
posted by December 12 at 17:15 PMon
Regarding the international banking crisis precipitated by the US mortgage crisis:
In an unprecedented move, which the City [of London] said revealed how serious the problems in financial markets had become, central banks offered huge sums of money to commercial banks in an attempt to get them to start lending to each other again.
“The [central banks] have gone out and constructed a great big turbo-charged plunger to flush out the clogged credit markets,” said Stephen Stanley, analyst at Royal Bank of Scotland Greenwich Capital.
(Footnote: The Bank of England is in the City of London, on Threadneedle Street, on top of a Roman temple. It is known as The Old Lady of Threadneedle Street or The Old Lady.)