 Forex - Market worries on Deficit implications of the $700bio Bailout |
 Sep 23 2008, 1:00
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The Dollar tumbled, hitting multi-week lows against the Euro and against Sterling on Monday as the US government's bailout plan to ease a financial credit crisis reignited worries about the country's
massive budget deficit. The $700bio package, which is awaiting congressional approval, would give sweeping powers to the US Treasury to buy mortgage-related bad debts from financial firms, including US subsidiaries of foreign banks. Analysts also raised questions about the ultimate form of the government's proposed $700bio solution to the credit squeeze and how the illiquid and damaged assets held by banks will be valued and taken onto the government's books. View the full article |
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