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Best financial news I've heard in weeks
Message
From
18/09/2008 15:50:09
 
 
General information
Forum:
Politics
Category:
Economics
Miscellaneous
Thread ID:
01348720
Message ID:
01348726
Views:
14
>"The Democratic-controlled Congress, acknowledging that it isn't equipped to lead the way to a solution for the financial crisis and can't agree on a path to follow, is likely to just get out of the way. "
>
>Congress is saying that it's not going to try to intervene in the current financial situation. This is fantastic news and I fully support this bi-partisan decision. Now if we could just get the FED to follow suit. $2 trillion+ and counting in bailouts so far...
>
>"One reason, Senate Majority Leader Harry Reid said yesterday, is that ``no one knows what to do'' at the moment. "
>
>I couldn't agree more.
>
>http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aVPBaUbYV_qQ

Imho, it is positive, but from slightly different angle. I think that Bernanke and Paulson know better what to do than the US Congress.
I don't know if you consider AIG deal a bailout. Strictly speaking, it is not; it is an orderly liquidation.
Edward Pikman
Independent Consultant
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