Wednesday, February 11, 2009

Obama calls for quick action to deal with economic "perfect storm"

President Barack Obama urged lawmakers to quickly approve a compromise bill in both the House and Senate to avoid further escalation of the economic crisis.

Obama described the economy's situation as the "perfect storm of financial problems."

Yesterday, Wall Street seemed to disapprove of Tim Geithner's plans for spending the remaining $350 billion of financial bailout money. The Dow was down by more than 300 points, but actually it's impossible to say for sure what caused the decline given the amount of bad news that keeps pouring out.

Washington Post
Obama warns of 'perfect storm of financial problems'
USA Today - 2 hours ago
Negotiators from the Obama administration and Congress resume negotiations today to resolve the differences between the economic stimulus plans approved by the House and Senate.
Video: US Senate passes rescue plan RussiaToday

US Congress negotiators to meet on stimulus deal Reuters

1 comment:

Anonymous said...

I understand what financial issues affecting U.S.
I would like to draw your attention to one of Bush mistakes, that was breaking financial relations with many countries and speicially my home country; Sudan.
40 million will wish to use your banking systems and technology - consequently Sudanese money will be routed via U.S.
You can disregard my point, but then remember it is and equivalent equation to both of us and if you did not look at, I will say Congratulation China YOU WON AND WE WILL BE AT YOUR REQUES.

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