NEWS
Oct 03, 2008
By Gustavs Plato
On October 03, 2008, The United States House of Representatives lawmakers voted 263-171 in favor of a $700 billion dollar bill to purchase distressed assets from financial institutions. The plan also includes up to $152 billion in a combination of tax credits and other financial tools to address the economic downturn faced by US firms.

The House's vote was aligned with the recently approved Senate bill which passed by a vote of 74-25. After the House approved the bill, it was delive... Read more »


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Sep 27, 2008
By Gustavs Plato
According to Financial Times Capital Markets Correspondent, David Oakley, the "Debt-laden eastern European economies are facing downgrades in the coming months as deteriorating credit conditions hit their fragile banking sectors.

The overheating economies of Latvia, Lithuania, Estonia, Kazakhstan, Montenegro, Serbia, Romania and Hungary are under the greatest threat, according to ratings agency Standard & Poor’s."

Further, Mr. Oakley reports: "Latvia has $26.2bn, equivale... Read more »


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