Credit Crisis
From Wall street to yout street
 Since the 14th of September, when Lehman Brothers bank filed for bankruptcy
and rival Merrill Lynch was taken over by Bank of America, the world’s global
finical crisis have been spiraling out of control. Now its threatening repercussions
are shaking the globe all the way from the NY’s east coast to the Middle East
to Japan. Meanwhile US government’s debts have ballooned so badly that the
National Debt Clock in New York had to be replaced when it ran out of digits
last month as the debt passed the $10 trillion point. G7, G8, G20 and the newly
proposed G14 and GX alongside all the other Gs of the world can’t seem to come
up with a plan that works or even gives the impression that it will work in solving
the Credit and Stocks crisis. “We can expect the crisis to have major ramifications
for emerging markets and the poorest countries as well,” U.S. Treasury Secretary
Henry Paulson said, as he urged the World Bank and IMF to make every effort to
ease the impact of the financial crisis on poorer countries.
News Archive
- Is Sexual harassment trendy?
- HOT: France wants Egypt to represents Arab world in G14
- McCain's Holy War
- Credit Crisis
- Odd but True
|
