credit crisis: The rest of the world gives their 2 cents
- 09/30/08 04:56 PM
As if the rest of the world was not anti-american enough. Reports of countries from around the worlds are in shock at the the U.S. government's failure to resolve the financial crisis threatening the foundations of the global free market, fingers of blame are pointing at America from around the planet. Latin American leaders say the U.S. must quickly fix the financial crisis it created before the rest of the world's hard-won economic gains are lost. "The managers of big business took huge risks out of greed," said President Oscar Arias of Costa Rica, whose economy is highly dependent on U.S. … (0 comments)
credit crisis: Stock Market up 400 - credit markets still need help
- 09/30/08 07:44 AM
Wall Street snapped back Tuesday after its biggest sell-off in years amid growing expectations that lawmakers will salvage a $700 billion rescue plan for the financial sector. But the seized-up credit markets where businesses turn to raise money showed no sign of relief. The recovery in stocks wasn't unexpected as carnage on Wall Street often attracts bargain hunters, though questions remain about how investors will proceed. Without a bailout plan in place to absorb soured mortgage debt and other bad loans from battered banks, investors are left wondering what might restore confidence in lending. Major stock indexes were almost a sideshow … (0 comments)
credit crisis: US government seeks to break grip of market crisis
- 09/18/08 06:47 AM
The U.S. government, which helped organize an $85 billion bailout of insurer AIG on Tuesday, also sought to break the grip of worsening global credit crisis by pumping billions into financial markets in a concerted action with central banks of other countries. The Federal Reserve Bank of New York, in two operations, injected $55 billion into temporary reserves in the United States, a move aimed to help ease a strained financial system in danger of freezing up. The move helped steady Wall Street after the previous session's massive rout. However, market participants still moved into safe assets such as gold and … (0 comments)
As if the rest of the world was not anti-american enough.;)
;)
