Bush urges joint crisis response

Bush urges joint crisis response

news.bbc.co.uk

US President George W Bush has called for co-ordinated action by leading industrialised countries to tackle the worldwide credit crunch.

...The International Monetary Fund has also called for joint action estimating financial losses at $1.4 trillion.

Mr Bush said finance ministers from G7 nations would meet in Washington at the weekend to discuss the crisis.

(visit the link for the full news article)

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Mod Edit: Title fixed to reflect original article
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[edit on 7/10/2008 by Badge01]

Could this be the beginning of a coordinated world-wide "solution", whose outcome has long been predetermined?

Already the EU is gearing up for joint action. Is this the 'bigger picture', or just a sensible response?

As usual the current plan is couched in terms of limited objectives:

Mr Bush said the rescue plan would free up credit for businesses and families but that it would take some time to work.

Is that all this represents?

news.bbc.co.uk
(visit the link for the full news article)

[edit to add:]
NB A video of Mr Bush speaking has just been added to the above article. Interesting that after saying (watch from 5:05) that deposits are now guaranteed up to $250,000 he adds that the FDIC has never failed to keeps it promise - followed by a ?revealing? stutter and splutter.


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Mod Edit: Title fixed to reflect original article


[edit on 7/10/2008 by Badge01]

[edit on 7/10/08 by pause4thought]

[edit on 7/10/08 by pause4thought]