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Pulling Out All the Stops: Emergency Summit? Treason.
See also Cutting Edge newsletters on this nd other bailout topics: http://cuttingedge.org/newsletters/
"George Bush is expected to summon Gordon Brown and other European
leaders to an emergency summit to discuss the economic crisis. "
[ Note CKH- What do you suppose they might be inclined to discuss at this late and desperate hour? How well the big meltdown they planned is going? The Amero? The 800 billion Ameros just shipped to China to service USA debt? The NAU which Obama pretends not to know anything about? The price of gas? I find it sadly comical that another "Summit" must be called. George Bush should have been impeached a very long time ago. What's left to discuss? America, please locate your spine. Now stiffen it. We are going to need real resolve to endure whatever new smoke and mirrors comes out of this latest "Emergency Summit." cough: secret meeting. ]
By Andrew Porter and James Kirkup
Last Updated: 7:19PM BST 07 Oct 2008
George Bush to summon European leaders to emergency finance summit President Bush urged his European counterparts to coordinate efforts to solve financial crisis spreading around the globe. The prospect of a high-level global meeting came as the US central bank launched a new bid to unfreeze credit markets by effectively lending billions of dollars to US companies.
The Federal Reserve moved after lending in the commercial paper market - where companies raise money from the open money markets - all but ceased, raising a serious threat to many American businesses' operations. "This facility should encourage investors to once again engage in term lending in the commercial paper market," the Fed said.
The Fed's move -- which puts billions of dollars of US taxpayers' money at risk -- was the latest sign of how desperate American leaders are to
unblock the global financial system and avert a severe recession. Mr Bush underlined that message personally on Tuesday in conversations
with other world leaders.
The Prime Minister, Nicolas Sarkozy, the French President and Silvio
Berlusconi, the Italian Prime Minister, spoke with the United States
President by telephone.
Mr Bush urged his European counterparts to coordinate efforts to solve
financial crisis spreading around the globe. All are expected to agree
to attend a meeting if the details can be thrashed out.
Downing Street said it was "a good idea" and welcomed the President's
close attention to events in Europe. The idea was floated by Mr Sarkozy,
who holds the presidency of the European Union.
Dana Perino, the White House press secretary, said: "The president
obviously talked to President Sarkozy about his idea to have a meeting.
The president's open to that."
The venue for the meeting would still have to be decided, although
Washington is the likely destination.
Mr Brown squeezed in a last-minute meeting with Mr Bush when he was in
America two weeks ago, prior to Congress agreeing the £700 billion
rescue plan that had been proposed by Hank Paulsen, the United States
Treasury Secretary.
At that stage the problems of Europe seemed to relatively minor compared
to the crisis unfolding on Wall Street, but events in Europe and
elsewhere in the last week have highlighted the need for concerted and
co-ordinated action.
In Luxembourg EU finance ministers on Tuesday said that they will talk
daily in future and "ensure a comprehensive and coordinated response to
the current situation."
They agreed to guarantee private savings of up to Euro 50,000 (£38,900)
for one year after failing to agree on a higher limit of Euro 100,000
(£77,800). The new limit is below the protection already offered by many EU
countries, including the UK.
EU governments have been trying to restore confidence after a series of
bank bailouts last week and a "beggar-my-neighbor" scramble by
individual countries to increase deposit guarantees, started by
Ireland's promise to underwrite 100 percent of deposits.
Disparities in EU states' treatment of banks is unnerving investors and
prompting savers to shift billions across borders.
In another unilateral European move, Spain on Tuesday announced it was
setting up a £30 billion fund to help the financial sector.
Taro Aso, the Japanese Prime Minister, said he was concerned that the EU
leaders' failure to agree a seamless response to the banking crisis will
cause continued turmoil in world markets.
Mr Aso said: "European leaders have met, but it didn't go well, and
European financial markets have fluctuated rapidly and substantially, so
I'm worried about the impact on Japan."
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3153...
----== Posted via Pronews.Com - Unlimited-Unrestricted-Secure Usenet News==----
http://www.pronews.com The #1 Newsgroup Service in the World! >100,000 Newsgroups
"George Bush is expected to summon Gordon Brown and other European
leaders to an emergency summit to discuss the economic crisis. "
[ Note CKH- What do you suppose they might be inclined to discuss at this late and desperate hour? How well the big meltdown they planned is going? The Amero? The 800 billion Ameros just shipped to China to service USA debt? The NAU which Obama pretends not to know anything about? The price of gas? I find it sadly comical that another "Summit" must be called. George Bush should have been impeached a very long time ago. What's left to discuss? America, please locate your spine. Now stiffen it. We are going to need real resolve to endure whatever new smoke and mirrors comes out of this latest "Emergency Summit." cough: secret meeting. ]
By Andrew Porter and James Kirkup
Last Updated: 7:19PM BST 07 Oct 2008
George Bush to summon European leaders to emergency finance summit President Bush urged his European counterparts to coordinate efforts to solve financial crisis spreading around the globe. The prospect of a high-level global meeting came as the US central bank launched a new bid to unfreeze credit markets by effectively lending billions of dollars to US companies. The Federal Reserve moved after lending in the commercial paper market - where companies raise money from the open money markets - all but ceased, raising a serious threat to many American businesses' operations. "This facility should encourage investors to once again engage in term lending in the commercial paper market," the Fed said.
The Fed's move -- which puts billions of dollars of US taxpayers' money at risk -- was the latest sign of how desperate American leaders are to
unblock the global financial system and avert a severe recession. Mr Bush underlined that message personally on Tuesday in conversations with other world leaders.
The Prime Minister, Nicolas Sarkozy, the French President and Silvio
Berlusconi, the Italian Prime Minister, spoke with the United States
President by telephone.
Mr Bush urged his European counterparts to coordinate efforts to solve
financial crisis spreading around the globe. All are expected to agree
to attend a meeting if the details can be thrashed out.
Downing Street said it was "a good idea" and welcomed the President's
close attention to events in Europe. The idea was floated by Mr Sarkozy,
who holds the presidency of the European Union.
Dana Perino, the White House press secretary, said: "The president
obviously talked to President Sarkozy about his idea to have a meeting.
The president's open to that."
The venue for the meeting would still have to be decided, although
Washington is the likely destination.
Mr Brown squeezed in a last-minute meeting with Mr Bush when he was in
America two weeks ago, prior to Congress agreeing the £700 billion
rescue plan that had been proposed by Hank Paulsen, the United States
Treasury Secretary.
At that stage the problems of Europe seemed to relatively minor compared
to the crisis unfolding on Wall Street, but events in Europe and
elsewhere in the last week have highlighted the need for concerted and
co-ordinated action.
In Luxembourg EU finance ministers on Tuesday said that they will talk
daily in future and "ensure a comprehensive and coordinated response to
the current situation."
They agreed to guarantee private savings of up to Euro 50,000 (£38,900)
for one year after failing to agree on a higher limit of Euro 100,000
(£77,800). The new limit is below the protection already offered by many EU
countries, including the UK.
EU governments have been trying to restore confidence after a series of
bank bailouts last week and a "beggar-my-neighbor" scramble by
individual countries to increase deposit guarantees, started by
Ireland's promise to underwrite 100 percent of deposits.
Disparities in EU states' treatment of banks is unnerving investors and
prompting savers to shift billions across borders.
In another unilateral European move, Spain on Tuesday announced it was
setting up a £30 billion fund to help the financial sector.
Taro Aso, the Japanese Prime Minister, said he was concerned that the EU
leaders' failure to agree a seamless response to the banking crisis will
cause continued turmoil in world markets.
Mr Aso said: "European leaders have met, but it didn't go well, and
European financial markets have fluctuated rapidly and substantially, so
I'm worried about the impact on Japan."
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3153...
----== Posted via Pronews.Com - Unlimited-Unrestricted-Secure Usenet News==----
http://www.pronews.com The #1 Newsgroup Service in the World! >100,000 Newsgroups
Other Internet "Lab Experiments" in Truth Revealing &
Global Spiritual Unity authored by CKH include
http://goldenheart888.wordpress.com
http://heartmanifesto.wordpress.com
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