Credit Crisis
The Group of Seven finance ministers were in Washington Saturday for a regularly scheduled meeting that took on greater importance after a record week of declines on Wall Street brought on by a freeze in international credit markets. The Dow has now lost such incredible numbers and dollars that's it's really hard to imagine billions and trillions. Maybe it's best we don't imagine!
President Bush pledged Saturday a united response from the world's leading finance ministers to the growing financial crisis that has threatened credit markets and key institutions around the globe. "We're in this together. We will come through it together," Bush said from the Rose Garden, after a meeting with finance ministers from the world's seven biggest industrialized nations.
Bush also asked for patience with actions that have already been taken, including the $700 billion bailout plan approved by Congress a little more than a week ago. "The benefits will not be realized overnight," Bush said. But did he offer any specifics? Nope!
Treasury Secretary Henry Paulson said Friday that the administration may use the authority granted in the $700 billion rescue plan enacted on Oct. 3 to take ownership stakes in financial institutions to stabilize and restore confidence in them. Other countries are also taking action to inject liquidity, protect citizens' savings and strengthen financial institutions in their own nations, he said.
Wall Street capped one of its worst weeks ever with a wild session Friday that saw the Dow Jones industrials gyrate within a 1,000 point range before closing with a relatively mild loss and the Nasdaq composite index actually ending with a modest advance. Investors were still agonizing over frozen credit markets, but seven days of massive losses and the possibility of further government support for the markets tempted some investors late in the session.
It's definitely ugly out there and John McCain is not a beneficiary of it all.
Related Tags: bush, wall street, credit crisis, john mccain, finance ministers, paulson, group of seven
As a spiritual-futurist, I interpret current events in light of possible macro-universal forces at play leading up to 2012, but not limited to it.
Your Article Search Directory : Find in ArticlesRecent articles in this category:
- Lapel Pins Help Stretch Your Holiday Marketing Dollars
The economy… it was a major issue in the last election and with its rollercoaster drops has caused a - Why You Need a Marketing Calendar
It's never too early to start planning your marketing calendar for the next year.Jay Levinson, the c - Leaving Cold Calls Behind Finally
No More Cold Calling is not just a banner or an enlightened sales personís statement of affirmation. - Never Cold Call: Alternative Sales Tool to Cold Calling
Cold calling used to be a very effective tool in sales. However, the effectiveness of this sales tec - Three Important Aspects of Multilevel Marketing
Multilevel marketing is making big waves! Recently, it has become an $80 billion business and is sti - Significance of MLM Marketing
Multi Level Marketing has become a multi billion industry that has managed to snare people from all - Tips For Effective Internet MLM Marketing
Millions of people are involved in internet MLM either as owners or as members. With such a large nu - Important Info About Internet MLM
MLM is a billion dollar industry. People have built empires out of this business and in the process, - Mastering the Process of Lead Generation
Lead generation is the best way to open opportunities and mine for information in multi-level market - How to Create High-Impact Business Card
Your business card is more than a repository of contact information. It is a tool that you can use t
Most viewed articles in this category:
- Adsense Is Making Me Rich
I want to talk to you about the power of Google AdSense and how you can use it to generate not hundr - How to Increase Your Business Using the Esoteric Science of Radionics
As a small business owner, there are an amazing number of difficult skills I need to master so my bu - 14 Top Lead Generation Tips
According to former Harvard Business School professor David Maister, typical marketing practices are - More Marketing Dope
Direct marketing can make you very successful, but you’ve got to understand the basics. Here a - The State Of Paid-To-Surf Programs Today
What a difference a year can make. 12 months ago, auto surf programs were at their peak. More an - Is Adsense A Good Idea?
For many webmasters, Google AdSense has become a great revenue generator. Since the program pays th - Should You Open Up An Ebay Store?
Ebay has provided some amazing opportunities for many people to earn online. This widely popular au - The "Coat Of Arms" Revisited
Recently I listened to a interview with Mark Joyner and Gary Halbert about Gary's famous "Coat of Ar - Brand Loyalty
It's a challenge getting consumers to remain loyal to a particular brand. Unlike the good old days w - The Hottest Affiliate Ebooks Out in the Market Today!
Affiliate Project X is a great affiliate marketing ebook. Totaling only 50 pages you could have your
