Well done USA

[karism]

Good Morning Guys!

Iam glad to see things are getting better. Good luck to all of you

U.S. Investing $250 Billion in Banks

By MARK LANDLERPublished: October 13, 2008

WASHINGTON — The Treasury Department, in its boldest move yet, is expected to announce a plan on Tuesday to invest up to $250 billion in banks, according to officials. The United States is also expected to guarantee new debt issued by banks for three years — a measure meant to encourage the banks to resume lending to one another and to customers, officials said.

Intervention Is Bold, but Has a Basis in History (October 14, 2008) Both Sides of the Aisle See More Regulation (October 14, 2008) Enlarge This Image Brendan Smialowski for The New York Times

After meetings: John Mack, left, of Morgan Stanley, and Vikram Pandit of Citigroup. Readers' CommentsHow has your confidence in the economy been affected by the recent efforts to address the financial crisis?Post a Comment »Read All Comments (21) »

And the Federal Deposit Insurance Corporation will offer an unlimited guarantee on bank deposits in accounts that do not bear interest — typically those of businesses — bringing the United States in line with several European countries, which have adopted such blanket guarantees.

The Dow Jones industrial average gained 936 points, or 11 percent, the largest single-day gain in the American stock market since the 1930s. The surge stretched around the globe: in Paris and Frankfurt, stocks had their biggest one-day gains ever, responding to news of similar multibillion-dollar rescue packages by the French and German governments.

Treasury Secretary Henry M. Paulson Jr. outlined the plan to nine of the nation’s leading bankers at an afternoon meeting, officials said. He essentially told the participants that they would have to accept government investment for the good of the American financial system.

http://www.nytimes.com/2008/10...mc=th

Good luck from RSA!

Karis

[dusred]

Political issue much? Politics forum.

[karism]

My apologies.

Woot USA !

Karis

[ADDirishboy]

Why is this a good thing?