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AUSTRALIA has joined a global coalition to pressure US legislators to pass a controversial $US700 billion Wall Street bailout package. Kevin Rudd today confirmed the rare intervention into domestic US politics, revealing he spoke to British Prime Minister Gordon Brown this morning after the US House of Representatives rejected the financial package overnight, sending the Dow Jones into freefall. The Australian stock market has fallen sharply on opening, down more than four per cent in the first 15 minutes of trading. At a press conference this morning, the Prime Minister and Treasurer Wayne Swan said Australia was well-placed to withstand the crisis but warned the failure of US Congress to agree on a bailout deal could prolong the crisis. Mr Rudd stressed it was important for all US congressmen to understand the united interest that “friends and allies” have in the passage of the bailout bill.
Sept. 29 (Bloomberg) -- The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis since the Great Depression.
Originally posted by JacKatMtn
If Rudd thinks it is a guaranteed fix, then let him get the Aussie Government pump 700B of the Aussie taxpayers funds into their market. Same goes for Tokyo, London and every other market who wants the US to do the same.
Originally posted by ohioriver
To all Non American Countries:
NO The American people will never agree to this. Our legislators know and realize that if they pass this it will be their last action before being voted out in November.