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External affairs  25 September 2008, 13:27, Fin.ro

FBI, following the influent guys on Wall Street

Among the structures taken in sight by the FBI, there are included the companies in financial difficulty, agencies such as refinancing of real estate loans, Fannie Mae and Freddie Mac, along with bank Lehman Brothers, which entered into bankruptcy on Sept. 11, and AIG – the worldwide insurer. They are the institutions that have triggered practically the large operation of rescuing the American banking plan of 700 billion dollars, prepared by George Bush’s administration and the Minister of Finance, Henry Paulson.

Article translated by:
NiC Translation Company

Meanwhile, the "wonder" project hit the hostility of many American parliamentarians, to the desperation of world markets, which posted yesterday an increased caution, refusing any sudden movements. ”It will not work!" reacted the president of the Senate banking committee, the Democrat Christopher Dodd, to the 700 billion U.S. dollars plan meant to erase the questionable debts accumulated by banks in real estate domain. "The taxpayer is put in a position to assume the risk of disastrous decisions taken by the well-paid individuals on Wall Street", said in his turn, Democrat Jack Reed. "We give 700 billion, or 700,000 billion, without resolving anything. Before signing a document of such magnitude, you need to know if you have exhausted all reasonable solutions ", said, on the other hand, Senator Richard Shelby.

The conclusion? The plan was rejected, but the text will be renegotiated. The congress wants firm guarantees from the authorities.

„Endurance convalescence“


In this context, the general manager of the International Monetary Fund, Dominique Strauss-Kahn, advised the Europeans to "prepare for the worst case scenario" and the European Central Bank announced it will inject another 40 billion euros on the market. On the previous day, Sarkozy set on his counterparts to examine the necessity of convening an international meeting, "to reflect together on lessons to be learned" and estimated that "mankind is in front of the most serious crises of the past 80 years." In a sort of commentary on this issue, the Swiss daily newspaper "Le Temps" wrote, among other things, that "the history of the rescue operation of stock exchanges shows that the convalescence is a long term one." "After the 117 crises occurred in the last three decades, one could find that the rescue maneuvers orchestrated by the monetary authorities and governments have never been accompanied by an immediate and sustained recovery. It takes time”, concluded the mentioned publication.

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