The $700bn financial rescue package passed by Congress has not failed. We will be able to judge its merits in 6-12 months, at the earliest. The alternative, doing nothing at all, would have meant a complete meltdown of markets; that has been averted.
It has failed. America's top economists warned that it would fail. All it has done is reward the Democrat's corporate cronies in FM&FM for a job well done. At best it will delay the approaching Depression by a couple of months, if lucky.
As for the EU measures: lol, the banks invested the bailout money from the ECB in themselves instead of eachother like they agreed.
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As for the EU measures: lol, the banks invested the bailout money from the ECB in themselves instead of eachother like they agreed.
Thanks Corporatism!
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