Wednesday, October 08, 2008

Spreading the "Joy" . . . .

It appears that bushco is attempting to SPP-ize the international financial markets.

Courtesy of Reuters:

Paulson to discuss G7 financial coordination
Wed Oct 8, 2008

by David Lawder and Andy Sullivan

WASHINGTON (Reuters) - The Bush administration said Treasury Secretary Henry Paulson at a news conference on Wednesday will discuss coordinated actions by wealthy industrialized countries to ease financial system stress.

White House spokeswoman Dana Perino said Paulson may discuss a plan floated by British Prime Minister Gordon Brown for concerted action to guarantee inter-bank lending.


She declined to provide any more details about the Brown plan, which was disclosed by a G7 source who said the British leader sent a letter to G7 counterparts urging them to issue a set of similar national guarantees aimed at restoring trust in the global market for bank funding.


Perino said Paulson also will focus on the Treasury's coordinated actions with other federal regulators to tackle "the four key challenges in our financial markets today: confidence, capital, systemic risk, and liquidity."

The Treasury will host the finance ministers and central bank governors of Canada, Britain, France, Germany, Italy and Japan on Friday ahead of semi-annual meetings of the International Monetary Fund and the World Bank.

Well, I feel better now . . . .

UPDATE: Now the party's getting even bigger! What shall we wear, what shall we wear ? ? ? ?

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