Asian stocks soar on possible US rescue package

Friday 19th September, 03:18 PM JST

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9 Comments

Molenir at 05:54 PM JST - 19th September

Markets are up, on very bad news. Another government bailout, this one costing trillions. Do people never learn. Wasn't the S&L failure and the Resolution Trust bailout enough of a lesson?!
barfly08 at 06:42 PM JST - 19th September

Once again the American's demonstrate the depth of their wallets. No other nation could handle this kind of banking crisis. Just look at how Japan muddled around for 15 years after their housing bubble burst. The Americans are about to turn this around in a week ! Amazing !
freakashow at 08:30 PM JST - 19th September

How many more investment giants have to fall before the U.S. government realizes that they have to get their act together. The U.S. government is all "reactionary" and no "precautionary". Well, guess what Bush, it's too late. Your 300 dollar per taxpayer economic stimulus plan didn't work, and your "possible" U.S. rescue package has a lot of holes in it as well. After all, you don't use band aids to fix a severed leg.
Good_Jorb at 11:10 PM JST - 19th September

Being from Canada I find this particularly ironic, after years and years of calling Canada and Europe socialist welfare states, the US in a matter of fews weeks has become the most expensive socialist (corporate) welfare state ever, essentially becoming the United Socialists of America. Writing what will be possibly be the biggest welfare check ever to be written. The sad part of it is the average American will not see any of this money, instead they and future generations will inheret hundreds of billions in debt, that they will have to pay with thier taxes. Well the people who mismanaged the whole problem, just get richer. All during a Republican presidency, who know true capitalist, no welfare, no government intervention, let the free market do what it does, deregulation and private ownership of companies.
jeancolmar at 11:23 PM JST - 19th September

Well, all this proves one thing. Free market capitalism, so-called, does not work. This crisis is the result of years of deregulation. And guess who rushes in to save capitalism from the point of collapse? Big Government. Big Government comes in to foot the bills of the irresponsible capitalists and regulate them and no one is screaming "creeping socialism." Uh, uh. The stock market rallies.

The screamer is that this is all being carried out by a neocon government.

Nice post Good jorb. Of course, as the joke good, the US always has had socialism for the rich and capitalism for the poor.
jeancolmar at 11:58 PM JST - 19th September

As the jokes goes, I meant to say....
Molenir at 01:30 AM JST - 20th September

No, this isn't capitalism. And there are people who are screaming socialism. What gets me, is all these people who love capitalism, until they do something stupid, then they're all, I hate capitalism. Save me with socialism from my stupidity.
freakashow at 11:30 AM JST - 20th September

We should all remember that this bailout plan has not been approved and passed by Congress yet, and thus we may not see the results of it for some time. It is also not assured that it will be a total success at all. At best, it will probably stop the dramatic decreases in housing prices, but banks will have to start trusting each other and consumers more. Overall, analysts are cautiously optimistic and fear more home foreclosures and troubled banking institutions are on the horizon.
freakashow at 11:55 AM JST - 20th September

To add, it is now known that Bush is asking for in excess of 500 billion dollars to use for this radical bailout plan. Where is he going to get that kind of money? We've already spent billions of dollars on the Iraq and Afghanistan wars.