Chris Cantell Discusses Financials: Still waiting for the rescue plan results by Zuzana Zelenakova

The stock market is in the state closely resembling panic although the financial rescue plan was approved by the US Senate on Wednesday. The earlier version of the plan was rejected on Monday. In comparison the new version added tax breaks and higher limit for insured bank deposits. According to some the rescue plan does not have the potential to solve the problem entirely but it will at least start the process. Both Republicans and Democrats worked together on the bailout. "In the years that I've been here, I can't recall a single time where - in this close proximity to an election - both sides have risen above the temptation to engage in partisan game playing, if you will, to address an issue of great magnitude," said Senate Republican Leader Mitch McConnell to the reporters. The earlier rejection of the bill highly disturbed the global markets causing the international sell off but US officials claim the rescue plan is the right remedy for the financial system. Neel Kashkari, the former Goldman Sachs executive, was appointed with looking after the program. It will of course take some time for it to achieve the required effect. "It's going to take awhile to restore confidence in the financial system. But one thing people can be certain of is that the bill I signed is a big step toward solving this problem," said President Bush in San Antonio, Texas. However, not many seem to be convinced by this also regarding the difficulties on the European and Asian markets. Everything was being sold off, not only financial sector. The financial institutions are falling down like dead flies in the United States, Bear Stearns, Lehman Brothers, Washington Mutual just to mention few. "I think what's needed is a global rate cut. But even that I don't think would solve the basic problem, which is that everybody's just scared of loaning money to anybody else," said David Wyss, chief economist for Standard and Poors in New York.


related story: http://news.yahoo.com/s/ap/20081007/ap_on_bi_ge/financial_meltdown;_ylt=ApE176qpBw2Gn86HrbtiNjSs0NUE

by Zuzana Zelenakova 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

Chris Cantell Discusses Financials: Otkrieni detalite od planot za spasuvanje by Milota Sidorova

Amerikanskata vlada otkri poveke detali od dolgo posakuvaniot paket so planot za spasuvanje. Samo nekolku momenti pred otvoranjeto na pazarite vo ponedelnikot, pretsedatelot Buš gi najavi prvite 125 bilioni dolari koi s e na pat da bidat iskeširani na devette najgolemi banki vo SAD. Tie ke dobijat suma od 25 bilioni dolari duri i ako go preživeale kreditniot krah bez nekoi poznačitelni šteti. Prva vo linijata e Bankata na Nju Jork Mellow koja veke pobara da mu prodade na Ministerstvoto za finansii akcii vo vrednost od 3 bilioni dolari. Isto kako i ostanatite slučai so Goldman Sachs, Morgan Stanley, JP Morgan Chace, Bank of America, problematičnata Merrill Lynch, Citigroup, Wells Fargo Co i State Street Cor, vladata ke otkupi delovi od kompaniite.

Ne e iznenaduvanje toa što amerikancite ne sakaat privatniot sektor delumno da bide poseduvan i limitiran od strana na državata, pa taka administracijata moraše da smisli kompromis. Delovite koi vladata ke gi otkupi nema da bidat predmet na glasanje ili izbor, no tie ke im dadat priroritet vo otplakanje ako kompanijata ne uspee ili propadne. Bankite isto taka mora da gi prifatat ograničuvanjata na izvršnata kompenzacija.

Ako sé odi dobro, danočnite obvrznici ke bidat slobodni da go otkupat vladiniot del i da imaat del od idnata zarabotuvačka ili da gi otkupat nazad za mnogu povisoka cena. Državniot minister za finansii Polson saka da se pomognat duri i zdravi kompanii za da se otstrani "stigmata" od amerikanskata ekonomija.
Vladinite akcii ke keširaat 5% godišna dividenda koja ke porasne do 9% posle 5 godini - ovoj čekor ke gi spreči kompaniite da se potpiraat na federalnata pomoš mnogu dolgo vreme.

Dosega zboruvavme za samo nekolku zdravi finansiski dzinovi. Do krajot na 2008 godina vtoriot del od 125 bilioni dolari treba da stigne do smetkite na pomalite amerikanski banki. Treba da ima suma od 100 bilioni dolari da se pokrijat lošite imoti i paket od 350 bilioni dolari koi se predviduva deka ke se potrošat so diskrecija od sledniot pretsedatel.

I pokraj dolgoto traenje i mnogute očekuvanja, planot ne ja pottikna doverbata kaj investitorite i včera na pazarite beše zabeležan mal pad. Dow Jones se namali za 77 poeni otkako raketno se izviši za 936 poeni. LIBOR ili pozajmuvanjeto od banka na banka go zabavi svoeto dviženje vo vtornikot potpišuvajki deka bankite sé ušte se sprečuvaat od neproceneti zaemi.

Zaedno so planot, imaše dve novini isto taka. Najprvo imaše lansiranje na fond za osiguruvanje koj garantira novi prašanja od dolgovite na bankite ili bukvalno - celosna zaštita na parite vo slučaj na bankrot. FDIC isto taka veti neograničen depozit za nekamatnite smetki koi gi koristat biznisite da gi pokrijat plakanjata ili drugi trošoci. Finalniot od poslednite federalni čekori da se podobri ekonomijata treba da se sluči na 27mi oktomvri kupuvajki ogromna suma od kratkoročen dolg.

related story: http://news.yahoo.com/s/ap/20081014/ap_on_bi_ge/financial_meltdown;_ylt=AiMCvyjKfPBd3ZF7c7IVVSus0NUE

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

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