$US700b bailout deal voted down

1points Posted 66 days, 14 hours ago by Bronwen

Wall Street's benchmark Dow index has suffered its worst single-day points hit ever after a $860 billion ($US700 billion) financial bailout package failed to pass the US House of Representatives.

Read the rest of this story

Source: http://business.theage.com.au/business/us700b-bailout-deal-v…

Comments

There goes the neighbourhood … it’s a shame it’s the global neighbourhood that the volatile US economy is destroying.

You must be logged in to vote

Tama, while the US is definitely the trigger, the underlying cause is worldwide … everyone has been quite happy to take cheap, unsecured credit for the past 10 years. That has to come from somewhere.

You must be logged in to vote

Jordan, true enough, but the single biggest push behind both the philosophy driving such economics and those leading the way (downward) have been the US.  I’m  not suggesting the US is the only country at fault, but the massive political game that combines the biggest bailout in economic history with the tides of a US election are poorly mixed, at best.

You must be logged in to vote

Time to stock up on gold, guns and tequila. Though, of course, tomorrow will have enormous gains because hey, who can resist a bargain?

You must be logged in to vote

Leave a Comment

You must be logged in to post a comment.


Subscribe to the PerthNorg RSS feed

Thursday, 4th December 2008

Weather
Mostly Cloudy 22°

About PerthNorg

A norg is about people powered news. Anyone can join and contribute to the news as a Cit J. Add your comments, share your stories, post your pics, submit links to interesting stories, upload your YouTube clips and vote for the stories you feel are important. Join up now.