700 billion bailout to be implemented!

700 billion bailout to be implemented!
Oct 6, 2008 03:11
YVONNE Points: Join Date: Nov 29, 2004 Status: offline	Last Friday, Paulson's 700 billion bailout plan was approved by US Congress. Today, the FT news said that US authorities might take its first big step to implement the rescue plan. It is reported that US will use 700 billion yuan to buy troublesome assets from those financial companies. Meanwhile, they have outlined the guidelines for the selection of a handful of private asset managers to run the programme. Probably, we should congratulate Bush and Paulson. They have been supporting the 700 billion bailout and finally have got approved by US Congress. Paulson once knelt down toward a Senator for asking her support to his rescue plan. It is what the news said. There is another rumour. It is said that 200 billion of the bailout will come from China. However, the spokesperson for the central bank of PRC had denied that China will take out 200 billion to help US. Do you believe that the rescue plan will work out smoothly? By the way, what kind of role does China play in this rescue plan? According to the former US Treasury Secretary, Larry Summers, China and the Middle East will play important roles in this rescue plan. "If they decide not to buy any more of the new debt, or dump existing debt, then the outlook for the US is truly dire." Here is an article: http://www.independent.co.uk/news/business/comment/margareta-pagano/margareta-pagano-will-china-tip-the-us-balance-of-financial-terror-951396.html

Oct 6, 2008 03:11

YVONNE
Points:
Join Date: Nov 29, 2004
Status: offline

Last Friday, Paulson's 700 billion bailout plan was approved by US Congress. Today, the FT news said that US authorities might take its first big step to implement the rescue plan. It is reported that US will use 700 billion yuan to buy troublesome assets from those financial companies. Meanwhile, they have outlined the guidelines for the selection of a handful of private asset managers to run the programme.

Probably, we should congratulate Bush and Paulson. They have been supporting the 700 billion bailout and finally have got approved by US Congress. Paulson once knelt down toward a Senator for asking her support to his rescue plan. It is what the news said.

There is another rumour. It is said that 200 billion of the bailout will come from China. However, the spokesperson for the central bank of PRC had denied that China will take out 200 billion to help US.

Do you believe that the rescue plan will work out smoothly? By the way, what kind of role does China play in this rescue plan?

According to the former US Treasury Secretary, Larry Summers, China and the Middle East will play important roles in this rescue plan. "If they decide not to buy any more of the new debt, or dump existing debt, then the outlook for the US is truly dire."

Here is an article: http://www.independent.co.uk/news/business/comment/margareta-pagano/margareta-pagano-will-china-tip-the-us-balance-of-financial-terror-951396.html

Oct 6, 2008 09:57	#1
GRIZ326 Points: Join Date: Jun 12, 2006 Status: Offline	I think the money will move smoothly into the pockets of crooks.

Oct 6, 2008 22:08	#2
JIMMYB Points: Join Date: Feb 7, 2007 Status: Offline	Hehe, you oppose the rescue plan, Griz? Somebody said that US economy would collapse if the rescue plan wasn't approved. Do you believe this?

Oct 6, 2008 22:45	#3
MARRIE Points: Join Date: Jan 7, 2008 Status: Offline	As the statement cited from WashingtongPost, Centries of development is impossible to collapes or matched overnight. Political crooks have little chance to perform on the stage considering relatively perfect supervision system from free speech, free press and political check system, but it takes time for self-curing.

Oct 7, 2008 20:29	#4
JIMMYB Points: Join Date: Feb 7, 2007 Status: Offline	Marrie, US authorities don't think so. They think that US has encountered a very serious financial crisis and they should try their best to stop this. It is estimated that US Fed will expend its budget to 900 billion to help US survive this crisis.

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