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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (81851)	10/12/2008 2:03:45 PM
From: Qualified Opinion	Respond to of 94695

European Union to guarantee interbank loans: report Money lent for up to five years will be backstopped by Europe's governments By Sam Mamudi, MarketWatch Last update: 1:01 p.m. EDT Oct. 12, 2008Comments: 8NEW YORK (MarketWatch) -- The leaders of 15 European Union countries are set to announce Sunday a plan to guarantee new medium-term loans between banks, Agence-France Presse reported. The plan, which will last for an "interim period," will see governments underwrite loans of up to five years, AFP said, citing a draft of the statement. Banks will be charged commercial rates for the service, although final terms are still under discussion, the report said. The 15 leaders of the eurozone countries were meeting Sunday in Paris to discuss how to deal with the crisis gripping the world's financial markets. Among those attending was U.K. Prime Minister Gordon Brown, who announced Wednesday a 500 billion-pound ($852 billion) rescue package for British banks. The U.K. is reportedly readying an announcement on Monday morning about 35 billion pounds of capital injections it is making in four of its leading banks. See full story. French President Nicolas Sarkozy was quoted in the New York Times as saying that he expected European countries to present an "ambitious and coordinated plan" that goes beyond what was announced Friday by finance ministers of the Group of Seven. The finance ministers gathered in Washington, D.C., for the weekend to discuss a plan to backstop the financial system with injections of cash into banks. The meeting took place as the International Monetary Fund said policymakers are working hard to make sure the global financial system doesn't fail.

To: Real Man who wrote (81851)	10/12/2008 4:30:05 PM
From: ggersh	Respond to of 94695

This is turning out to be alot worse than I even thought possible...I just hope war is avoided, we all know what that brings.... Some many clueless people running the World, you gotta wonder where they come from....Can't possibly be Human!!!!