Silverbird
Well-known member
October 10, 2008
As Credit Crisis Spreads, Global Approach Weighed
By MARK LANDLER and EDMUND L. ANDREWS
New York Times
WASHINGTON — The United States and Britain appear to be converging on a similar blueprint for stemming the financial chaos sweeping the world, one day before a crucial meeting of leaders begins in Washington that the White House hopes will result in a more coordinated response.
.....The British and American plans, though far from identical, have two common elements according to officials: injection of government money into banks in return for ownership stakes and guarantees of repayment for various types of loans.
Both remedies will be center stage on Saturday, when President Bush meets with finance ministers from the world’s richest countries at an unusual White House meeting to swap ideas.
Mr. Bush’s invitation to finance ministers from Britain, Italy, Germany, France, Canada and Japan came on a day of phone calls and letters between European leaders and with Washington.....
http://www.nytimes.com/2008/10/10/b...47216-76r cnKyd7DFRLs0z8ZYdg&pagewanted=print
As Credit Crisis Spreads, Global Approach Weighed
By MARK LANDLER and EDMUND L. ANDREWS
New York Times
WASHINGTON — The United States and Britain appear to be converging on a similar blueprint for stemming the financial chaos sweeping the world, one day before a crucial meeting of leaders begins in Washington that the White House hopes will result in a more coordinated response.
.....The British and American plans, though far from identical, have two common elements according to officials: injection of government money into banks in return for ownership stakes and guarantees of repayment for various types of loans.
Both remedies will be center stage on Saturday, when President Bush meets with finance ministers from the world’s richest countries at an unusual White House meeting to swap ideas.
Mr. Bush’s invitation to finance ministers from Britain, Italy, Germany, France, Canada and Japan came on a day of phone calls and letters between European leaders and with Washington.....
http://www.nytimes.com/2008/10/10/b...47216-76r cnKyd7DFRLs0z8ZYdg&pagewanted=print
