Short Sum over American Wednesday 9/24. by Milota Sidorova

Prezidential candidate John McCain doesn’t believe the rescue plan as proposed will pass through Congress. Due the serious situation he has even suspended his campaign to focus more on financial crisis. How generous, one might say. The United States are running out of time. The rescue plan hasn’t found its green light in the highest lawmaking institution yesterday.
Paulson, Bernanke, Bush they all seem like one when criticized the opinion of powerful senators. The grave threat is hanging above U.S. The mortgage crisis that led into credit crisis will inevitable impact all economy. People won’t stop losing their jobs or their houses, and no one, including Paulson himself can’t predict the consequences.

After the government has announced the proposal American markets eased for a while. However, this gentle breeze didn’t last that long. Indexes, stocks and dollar were falling, providing great opportunities for foreign investors to buy shares.

The greatest rescue package of $700 billion has deepened a national debt. It is not a game what they’re trying right now. The government has called on FBI to start investigation over bankrupted Lehman Brothers, spared AIG, Fannie Mae and Freddie Mac.
Despite of public declaration, FBI officials didn’t prove much of it. Richard Kolko, the spokesman declined to confirm any investigation details except of FBI was running 26 cases of potential corporate frauds related to the collapse of U.S. lending industry.

FBI Director Robert Mueller suggested releasing any unnecessary information could negative fluster yet so troubled stock market. He said FBI will investigate at all levels.

Lehman Brothers officials denied comment FBI statement, Freddie and Fannie spokesmen were not currently available. AIG promised cooperation however hasn’t received any suggestions.

According FBI in preliminary state of investigation there are no imminent charges endangering collapsed companies.
So while FBI keeps the strategy of mouth shut, politicians do the opposite. With a little hope, we might live the final decision in Capitol Hill before Monday morning.


related story: http://news.yahoo.com/s/nm/20080924/ts_nm/us_financial_bailout_fbi_news;_ylt=ArU2Ouv5KeK0x3QUaO03o5Os0NUE

by Milota Sidorova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

These news are original content from young talents around the world and are selected for you by Chris Cantell.


edited by Beata Biskova