Thursday, November 20, 2008

Yeeha! Anyone else want some cash, just see Mr Paulson!

Shares freefall halted by car bailout support

US senators reached a bipartisan agreement on a bill to support the ailing auto industry, with an announcement expected this afternoon. The Dow Jones industrial average, which had been down more than 200 points in morning trade in New York, rose by 78 points to 8,075.89 at lunchtime as investors welcomed the news. Wall Street had been bracing itself for the possibility that Washington would not approve an emergency $25 billion (£16.7 billion) bridging loan to bail out America’s car industry in time to avert the bankruptcy of at least one big manufacturer.

Posted by flintster1994 @ 07:00 PM (781 views)
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5 thoughts on “Yeeha! Anyone else want some cash, just see Mr Paulson!

  • BBC also have the story see newsvote.bbc.co.uk/1/hi/business/7740670.stm

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  • Citigroup looks like being next in the line – down 30% on the day as I type !!!!!

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  • tyrellcorporation says:

    A very sad development IMO. The US is embracing French style economics – the end really is nigh!

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  • Thought this was an interesting statement and one for the deflation fans to dwell on.

    ‘More than 95% of all hyperinflation events, if not all, started in a business recession or depression, not in a recovery phase of that country’s business activity.’

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  • (Reuters) – FEDERAL RESERVE BANK OF NEW YORK STARTS PAIRS TRADING, STAT ARB HEDGE FUND IN EFFORT TO INCREASE LIQUIDITY IN DISTRESSED MARKETS

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