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Monday, January 26, 2009
More US Bank Bailout Plans
Check this out. More money will be set aside for banks in the US, which is good news for the whole banking industry worldwide. It is like a repair mechanism for the 'injured' banks, to make the banks strong again and functioning normally again.
2 comments:
Anonymous
said...
Hi Eagle, Gong Xi Fa Cai, Wan Shi Shun Li to you. I hope you have a bullish year in the year of the Ox.
You know, till this day I still dont understand why the US govt failed to rescue Lehman Bros. Fuld takes most of the blame of cuz, Treasury Sec Henry Paulson said it wont use US taxpayer money to fund Lehman back in September, but in March last year they pumped in $29 billion juz like that for the sale of Bear Stearns to JPMorgan.
After Sept 15, I think it really was a wake up call for the US govt. And the TARP introduced hasn't had its effects seen on main street. It makes me wonder how effective the govt spending really is. But one thing i know for sure is, after this crisis, investment banks and even Wall street as a whole is going to face a whole wall of strict regulations.
Hi Eddy, thanks, Gong Xi Fa Cai, Xin Xiang Shi Cheng as well to you and all your friends and family.
It is always puzzling when and why certain govts take action on certain issues and why they dont. There are no rights and wrongs, it all depends on who the boss is, what the majority of people in power at that moment think etc.
You are right, it always takes something bad to trigger new rules and regulations. For eg, to take a simple example, when few children got their feet stuck in the escalators of shopping malls because they were playing on the escalators, new rules were imposed restricting people from 'playing' on escalators. Signs were placed at almost every escalator in almost all shopping malls. Now that the incidents have faded into a rather distant memory, nobody is taking this safety measure seriously anymore, the safety signs have also more or less disappeared.
2 comments:
Hi Eagle, Gong Xi Fa Cai, Wan Shi Shun Li to you. I hope you have a bullish year in the year of the Ox.
You know, till this day I still dont understand why the US govt failed to rescue Lehman Bros. Fuld takes most of the blame of cuz, Treasury Sec Henry Paulson said it wont use US taxpayer money to fund Lehman back in September, but in March last year they pumped in $29 billion juz like that for the sale of Bear Stearns to JPMorgan.
After Sept 15, I think it really was a wake up call for the US govt. And the TARP introduced hasn't had its effects seen on main street. It makes me wonder how effective the govt spending really is. But one thing i know for sure is, after this crisis, investment banks and even Wall street as a whole is going to face a whole wall of strict regulations.
Hi Eddy, thanks, Gong Xi Fa Cai, Xin Xiang Shi Cheng as well to you and all your friends and family.
It is always puzzling when and why certain govts take action on certain issues and why they dont. There are no rights and wrongs, it all depends on who the boss is, what the majority of people in power at that moment think etc.
You are right, it always takes something bad to trigger new rules and regulations. For eg, to take a simple example, when few children got their feet stuck in the escalators of shopping malls because they were playing on the escalators, new rules were imposed restricting people from 'playing' on escalators. Signs were placed at almost every escalator in almost all shopping malls. Now that the incidents have faded into a rather distant memory, nobody is taking this safety measure seriously anymore, the safety signs have also more or less disappeared.
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