European Leaders: Help Is On The Way

The New York Times:

European financial and political leaders agreed late Sunday to a plan that would inject billions of euros into their banks in a bid to restore confidence to the teetering financial system.

Taking their cue from a rescue plan announced last week by Britain, the European countries led by Germany and France pledged to take equity stakes in distressed banks and vowed to guarantee bank lending for periods up to five years.

Read the whole story: The New York Times

Comments

[Amalek]

What is wrong with this meeting? A bunch of old European white guys trying to save the world. Not one Chinese present. When will we recognize the new world order and realize that the Chinese are the ones in the drivers seat, not the french.

[TroubleNYC]

We're getting help from the Socialists?!?!? This will send the Red states into a frenzy.

[repugnicansfearme]

Somehow the French Nutbag does not instill a lot of confidence. What the hell is he doing in this photo? Playing paddycake? What a creep.

[Paul]

So the Europeans are getting equity for their bailout money.

Maybe we should try that.

[DoctorDonut]

so long as the us elects Obama

http://www.theweeklydonut.com/index.php/2008/10/06/you-betcha/

[Kaos911]

How embarrassing.

[Danny]

Well, if nothing else, it'll make a nice photo-op for the E.U leaders. What DID they accomplish?

Bush sure was lucky that the foreign ministers happened to be in town for the World Bank/IMF ANNUAL meeting for his photo-op. Speaking of which, why are these dinosaur organizations still relevant?

[JuniorNorman]

When the big money people want it to crash because they short it, its going down. they want it way down because the have money to buy when most people dont!

The [privately owned] U.S. Federal Reserve and British Monarchy Short the U.S. Stock Market
United States of America – It can now be reported that the over 600 point decline in U.S. stocks today was effected by a massive infusion of short positions by major British and Israeli hedge funds headquartered in the Cayman Islands.

Tom Heneghan MYSPACE

[raw915]

George Bush legacy, "The Decline and Fall of the American Empire."

[Grannysue]

You know one thing that the dear old party loyalist haven't thought about, what do we do if China decides to call in all our markers??

[Viper]

We stop importing their junk and they close down. A win. Then we build our own junk for a change!

Regards

[Zeje]

It would take a while before we could make our own junk, now that we've shut up all the factories. It wouldn't take China long to find new customers tho'. China has been anticipating this event for some time. Truth is: US treasury has no money. China, on the other hand, has lots of dollars and lots of yen.

[aubrey8]

So what's new there? nothing. China has had that option for years anyway.

what we better worry about is that crook Bush and his conservative cronies trying to figure a way out to steal a piece of the bailout money.