Global Economy saved by the ONE and friends

[BeBMan]

Crisis is basically over now

http://news.bbc.co.uk/2/hi/business/7979483.stm

Leaders of the world's largest economies have reached an agreement to tackle the global financial crisis with measures worth $1 trillion (£681bn).

To help countries with troubled economies, the International Monetary Fund (IMF) will get extra resources worth up to $750bn.

There will also be sanctions against secretive tax havens and tougher global financial regulation.

And the G20 has committed about $250bn to boost global trade.

On behalf of the G20, Prime Minister Gordon Brown announced the following steps:

* Bankers' pay and bonuses will be subject to stricter controls

* A new Financial Stability Board will be set up to work with the IMF to ensure co-operation across borders
* There will be greater regulation of hedge funds and credit ratings agencies
* A common approach to cleaning up banks' toxic assets
* The world's poorest countries will receive $50bn in aid.

I really was a bit scared by all this "bad economy" talk recently

[Velociryx]

Let the good times roll!



-=Vel=-

[ZEE]

well that was easy. Now i can be lazy again!

[DanS]

pump pump pump pump

[The Mad Monk]

*pop*

[chequita guevara]

It ain't enough and if they don't fix the underlying problem, the dominance of finance capital, it won't keep it from happening again

[Imran Siddiqui]

Do you think they should all wear capes?

[The Emperor Fabulous]

Reason #2548 Why Obama is Better than Bush - ability to mediate

http://blogs.abcnews.com/politicalpunch/2009/04/source-obama-pl.html

Sources: Obama Plays Peacemaker in French-Chinese Smackdown Over Tax Havens

According to sources inside the room, President Obama just played peacemaker in a spat between French President Nicolas Sarkozy and Hu Jintao, President of the People's Republic of China.

In the finaly plenary session among the G-20 leaders, Sarkozy and Hu were having a heated disagreement about tax havens.

[...]

The exchange between Sarkozy and Hu got so heated, said a source -- who is not a member of the Obama administration -- it was threatening the unity of the G-20 leaders' meeting.

"They were going through the revised draft," a senior Obama administration official said.

The issue: Sarko wanted "a list of non-compliant jurisdictions," tones that allow tax havens, he senior official said. "Other countries wanted it too, but (Sarkozy) was the most outspoken."

[...]

But Mr. Obama, according to this account, stepped between the two men, urging them to try to find consensus, and giving them a "pep talk" about the importance of working together.

The senior adminstration official said that Mr. Obama pulled Mr. Sarkozy aside, took him to a corner, "and discussed possible alternatives," the senior official said.

Once they arrived at one, President Obama "sent a message to the Chinese" that a counter-offer was on the table. The Chinese spent some time considering the offer. But they took a few minutes.

So Mr. Obama, with the assistance of translators, suggested that he and Mr. Hu have a conversation as well. They, too went to the corner to talk. After a few minutes, Mr. Obama called upon Mr. Sarkozy to join them.

"Translators and sherpas in tow, they reached an agreement," the official said. "There was a multiple shaking of hands."

The agreement: the final G-20 document would state that the G-20 nations "stand ready to deploy sanctions to protect our public finances and financial systems. The era of banking secrecy is over. We note that the OECD has today published a list of countries assessed by the Global Forum against the international standard for exchange of tax information."

Do you ever see Bush pulling leaders aside to the corner to work out a compromise? He'd probably just rather spend that time in the corner working out Angela Merkel's knots.

[Velociryx]

-=Vel=-

[Zkribbler]

Don't even think about popping corks on champagne bottles until unemployment figures stablize.

[Arrian]

This thread needs the picture of Obama in front of the statue of Superman.

-Arrian

[Kidlicious]

Reason #2548 Why Obama is Better than Bush - ability to mediate

http://blogs.abcnews.com/politicalpunch/2009/04/source-obama-pl.html

Do you ever see Bush pulling leaders aside to the corner to work out a compromise? He'd probably just rather spend that time in the corner working out Angela Merkel's knots.

"If you aren't with us you're against us"

- Bush

[The Mad Monk]

Let's see that list.

[chequita guevara]

Don't even think about popping corks on champagne bottles until unemployment figures stablize.

Unemployment is rising stably.

[snoopy369]

Let's see that list.

Need somewhere to stash your cash?