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In a stunning series of moves engineered over the weekend and announced Sept. 29, six European governments are collectively committing nearly $150 billion to rescue four troubled financial institutions. Coming on the back of the U.S.'s $700 billion toxic mortgage bailout plan (BusinessWeek.com, 9/28/08), which was thrashed out over the weekend but defeated in a surprise vote Sept. 29, the move likely foretells a more proactive approach among European politicians and regulators to combating threats to the EU economy.
Originally posted by jam321
Why should the credit market freeze if you still have the means to repay your debt? I would think they would quit lending to high risk people. Most companies still have good credit. And if I am not mistaking small businesses can still get loans with the help of the small business programs.
Originally posted by grimreaper797
reply to post by Bunch
And trust will be restored, at least for now, with a bailout. That is the point. It will buy us time. That is what we need right now, time.
Originally posted by Siirappi
Is it possible that this is all part of the plan, with the $700b not on the table it leaves the opportunity for the evil banks to gobble up all the other banks and such.. I fear for the web based companies now, I think if people are running out of money they're gonna pull their highest assets out and they are probably the web and tech companies.. Like the housing markets these are shares that aren't actually worth anything so I think they'll be going next...... Am I right??