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Thread: 700 billion bailout to be implemented!

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[quote=YVONNE,328446]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[/quote]

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