U.S. Treasury Secretary Henry Paulson said on the 10th, the U.S. government is promoting a direct purchase of shares in financial institutions, plans, and may be more financial institutions into the plan.
It is learned that, according to the U.S. Congress last week approved a total of 700 billion U.S. dollars of financial aid programs, the United States Government has the right to directly buy shares in financial institutions. If implemented, this will be the last century during the Great Depression of the 30s the first time since the USA through direct access to financial institutions to buy shares.
Paulson said in the Western Group of Seven finance ministers and central bankers after the meeting at a news conference said that the U.S. government aims to promote the plan from the non-public capital-raising channels for financial institutions to provide supplementary. Government will buy the financial institutions, non-voting stock, so no power to inquire into the business operations of these institutions.
It is reported that the U.S. government may be announced next week to assist the Government in the implementation of the rescue program private asset management company list.
Original article reprint please specify: Reprinted from
http://mengziren.blogspot.com
It is learned that, according to the U.S. Congress last week approved a total of 700 billion U.S. dollars of financial aid programs, the United States Government has the right to directly buy shares in financial institutions. If implemented, this will be the last century during the Great Depression of the 30s the first time since the USA through direct access to financial institutions to buy shares.
Paulson said in the Western Group of Seven finance ministers and central bankers after the meeting at a news conference said that the U.S. government aims to promote the plan from the non-public capital-raising channels for financial institutions to provide supplementary. Government will buy the financial institutions, non-voting stock, so no power to inquire into the business operations of these institutions.
It is reported that the U.S. government may be announced next week to assist the Government in the implementation of the rescue program private asset management company list.
Original article reprint please specify: Reprinted from
http://mengziren.blogspot.com
1 comment:
Financial institutions are the top feeders of our economy. When basic business is good, and profits are high, they can "skim" and make profits buying and selling in abstract.
That is not the case now. Instead of resuscitating the top feeders, we need to regrow the bottom line. Basic business, small businesses need to be formed. A new DOW Jones needs to be found.
You can't keep pouring old wine into new skins...
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