Financial Crisis: USA & EU seeking series of summits

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The leaders of the U.S., France and the European Commission agreed yesterday to ask other world leaders to take part in a series of summits on the global financial crisis, with the first held in the U.S. sometime soon after the Nov. 4 presidential election.

President George W. Bush, French President Nicolas Sarkozy and European Commission President Jose Barroso said in a joint statement after a three-hour meeting at Camp David, the presidential retreat, that they would maintain coordinated steps to solve the crisis in the global economy… bloomberg.com

Germany’s biggest post-war bailout designed to ward off financial meltdown has passed on October 17, 2008.

The huge 500 billion euro safety package has been signed into law after passing overwhelmingly in Germany’s upper and lower chambers of parliament… euronews.net
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Financial Crisis: Markets surge after bank bailouts

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After one of the biggest one day gains in its history yesterday, Wall Street may find added impetus today on the back of news that the US Treasury is expected to inject 91 billion euros of capital into the country’s top nine banks.

It is the first tranche of a 182 billion euro deal announced yesterday…

European markets also rose with news of massive banking bail-outs by numerous EU countries.
Asian stocks also surged shortly when trading began this morning, with Japan’s Nikkei up more than 12 percent, after plunging more than 24 percent last week … Euronews

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Supplement: G7 Finance Ministers and Central Bank Governors Plan of Action

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Multicultural Blogs - update

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transatlantic daily NEWS "International Stuff" [introduction]

US Bailout Package Signed ▪ EU Financial Storm ▪ Carla Bruni-Sarkozy Chanson

Crisis & Art ▪ Russian Business & Markets ▪ No Pawning ▪ Modeling

Debate Obama - McCain ▪ Global Bank Crisis ▪ Fashion Talk ▪ Mysteriousness

Global Financial Crisis ▪ German G7 Proposals ▪ Cyber Violence Potential

G7 Washington ▪ Recession ~ Depression ▪ Violence ▪ GBS (TV) ▪ J. Haider’s Death

EU & Global Crisis ▪ G7 Finance Conference ▪ Livejournal ▪ Travels
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Global crisis: Sarkozy and Merkel prepared an EU plan

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COLOMBEY-LES-DEUX-EGLISES, France - French President Nicolas Sarkozy and German Chancellor Angela Merkel paved the way on Saturday for European measures to tackle the global financial crisis but revealed little about their plans.

Sarkozy, whose country holds the rotating six-month presidency of the European Union, has called an emergency meeting on Sunday of the 15 countries that have the euro as their currency, with a view to taking steps to stop the rot.

"We have prepared a certain number of decisions that we will submit to our partners in the presence of the president of the European Commission and the governor of the (European) central bank. You understand that it is not appropriate for us to talk about it," Sarkozy told a joint news conference with Merkel… By Francois Murphy, Reuters (France)
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Multicultural Blogs - update

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transatlantic daily NEWS "International Stuff" [introduction]

Obama-McCain Debate ▪ Rescue Haggling ▪ Palin’s Persuasion ▪ Munich’s Wies’n

Science (Oxford) vs. Religion ▪ MBA Tour ▪ Edward Norton ▪ Bought Degree

Bailout Plan ▪ Apostasy ▪ Palin - Couric ▪ Americanism ▪ Paul Newman

Failure: Wall Street Bailout ▪ Putin ~ Russia ▪ Big Business Influence

Cape Town’s Hermanus Bay ▪ US Bailout Plan ▪ European Crisis Affect

SPECIAL: South African Spring Weekend ▪ Family & Friends

German-Russian Forum (Merkel-Medvedev) ▪ Palin-Biden TV Debate ▪ Fossett
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US Finance Crisis: Modified Bailout Plan \ Apostasy

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WASHINGTON - The House braced for a difficult vote set for Monday on a $700 billion rescue of the financial industry after a weekend of tense negotiations produced a plan that Congressional leaders portrayed as greatly strengthened by new taxpayer safeguards.

The 110-page bill, intended to ease a growing credit crisis, came after a frenzied week of political twists and turns that culminated in an agreement between the Bush administration and Congress early Sunday morning. […]

The bill calls for disbursing the money in parts, starting with $250 billion followed by $100 billion at the discretion of the president. The Treasury can request the remaining $350 billion at any time, and Congress must act to deny it if it disapproves... The New York Times

While many Republican lawmakers seek to distance themselves from the plan, or disown it altogether, White House officials hope the heated opposition gradually will cool if the plan works.

Many frustrated conservatives see Bush's rescue plan, on top of his decision to invade Iraq, as cementing his legacy as a big-government conservative. To others, it marks his apostasy from conservative orthodoxy… The Wall Street Journal

Wall Street Bailout Failed

The spirit of bipartisan US congressional cooperation that brought the Wall Street bailout bill to the vote has fallen apart in a rancorous slanging match, amid talk of a "poisoned" debate. […] The New York Stock Exchange suffered its worst ever single-day points drop as news broke of the failed bailout bill. Telegraph UK

Multicultural Blogs - update

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transatlantic daily NEWS "International Stuff" [introduction]

US Financial Crisis ▪ R. Dawkins & J. C. Venter ▪ DC’s Westend Bistro

Munich’s Oktoberfest Gaudi ▪ Daniel C. Dennett ▪ ESMT Event (Washington)

Cologne Protest ▪ Weltschmerz ▪ Wies’n Fun ▪ Holistic Science ▪ ESMT-USW

Emmy Awards ▪ Holistic Science ▪ Islam Conference ▪ Musicianship

Emmy Awards: Fashion ▪ Holism & Utilitarianism ▪ Israel: Tzipi Livni

Jolie-Pitt (Berlin) ▪ Emmy Fashion ▪ Mortgage Crisis ▪ Hijacking ▪ Iran

Rescue Plans ▪ Tougher Regulation ▪ Iran (UN) ▪ Russia ▪ Georgia

Spur Failure (White House) ▪ Gamesmanship ▪ Church & Witches ▪ Fraudulence
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