USA Just Gone Bust

[Paddy]

http://news.bbc.co.uk/1/hi/business/7601701.stm

"For the US Treasury, the bailout could turn out to be one of the most expensive financial rescues in history "



World Panic Tomorrow

[AtW]

This should mainly affect shareholders of those companies. Dollar might slide down though, but probably against euro only.

[Turion]

US late again as UK been there and dunnit with our own Northern Rock.

[AtW]

US late again as UK been there and dunnit with our own Northern Rock.

No, what they did is nothing like NR - those 2 companies that they bailed out guarantee 50% of all US morgages - $2.5 trln, this is more than annual UK GDP (I think - can't be arsed to double check).

[Paddy]

This should mainly affect shareholders of those companies. Dollar might slide down though, but probably against euro only.

AtW, as usual you don’t know the facts. The grantors cover 50% of US mortgages and is Government backed. It has more the twice the national debt of the UK

[BrilloPad]

This should mainly affect shareholders of those companies. Dollar might slide down though, but probably against euro only.

I really hope you are right! I think this could affect sentiment - though while sovereign funds continue to buy US government debt I hope it will not be too bad.

If only we could get all the bad news out of the way......

[AtW]

AtW, as usual you don’t know the facts. The grantors cover 50% of US mortgages and is Government backed. It has more the twice the national debt of the UK

Maybe you'd bother to read my post above, date stamped earlier than yours?

[BrilloPad]

No, what they did is nothing like NR - those 2 companies that they bailed out guarantee 50% of all US morgages - $2.5 trln, this is more than annual UK GDP (I think - can't be arsed to double check).

http://www.independent.co.uk/news/bu...ar-905461.html

http://newsvote.bbc.co.uk/1/shared/f...ew/default.stm

UK GDP £1.41 trillion

exchange rate of 1.776

=$2.504 trillion USD

HTH

[HairyArsedBloke]

This should mainly affect shareholders of those companies.

[AtW]

http://www.independent.co.uk/news/bu...ar-905461.html

http://newsvote.bbc.co.uk/1/shared/f...ew/default.stm

UK GDP £1.41 trillion

exchange rate of 1.776

=$2.504 trillion USD

HTH

So I was right then?