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Politics : Politics for Pros- moderated

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To: TimF who wrote (271233)	9/29/2008 4:51:24 PM
From: FJB	of 793939

guardian.co.uk Tim Rocks, an equity strategist with Macquarie Securities in Hong Kong, said: "Now the devil is in the details. There have been so many constraints put on the deal that any one of those could completely limit its effectiveness." Under the proposal, the US government could access $250bn immediately, $100bn more if the president certified it was necessary, and the last $350bn with a separate certification - and subject to a congressional resolution. Matt Buckland, a dealer at CMC Markets, said: "The fact the funds won't be released in one lot but instead a series of tranches is certainly detracting from its appeal and this, combined with the very visible scars of the credit squeeze, will again weigh in sentiment." Rob Carnell at ING in London said: "The [US] plan was not quite the pure financing bill Secretary Paulson would have liked it to be ... The absence of any recapitalisation in the original plan had raised questions about the operational effectiveness of the scheme, and these questions still seem unresolved." Gold, regarded as a safe haven investment in times of turmoil, climbed 3% to almost $900. The precious metal has risen by 14% in the last two weeks.

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