U.S. to Push for Global Stimulus ~ risking a rift with Europeans

[peaceandlove]

U.S. to Push for Global Stimulus

The U.S. will press world leaders to boost emergency spending to lift the global economy, risking a rift with Europeans.

The Wall Street Journal
FOXNews.com
Sunday, March 08, 2009

WASHINGTON -- The U.S. will press world leaders to boost emergency government spending to lift the global economy, risking a rift with European nations more concerned with revamping financial regulation.

In President Barack Obama's first foray into economic diplomacy, Washington will urge the shift at a summit next month in London, U.S. officials say, as markets look for a unified plan of action from the world's most economically powerful nations.

Washington's focus is at odds with France, Germany and other European nations that want the Group of 20 summit on April 2 to focus on rewriting rules governing financial markets. These nations say lax regulation was a major cause of the financial crisis and want to tighten their grip on hedge funds and private-equity firms.

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[peaceandlove]

Global bank heads to meet in London

Mon Mar 9, 2009 9:35am EDT

TOKYO (Reuters) - Top executives of leading U.S., Japanese and European banks will meet in London this month to discuss regulation and other issues key to the future of the financial system, two industry sources said.

The British government will host the meeting on March 24, after a gathering of Group of 20 (G20) finance ministers in London this weekend and ahead of a summit of G20 leaders there on April 2, according to the sources who declined to be identified because the meeting has not been made public.

The G20 summit of big developed and developing countries aims to put the stuttering global economy on a path to recovery and come up with better regulation to fix a financial system crippled by the credit crisis.

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Bair says FDIC has enough money but wants cushion

7:56am EDT

WASHINGTON (Reuters) - Sheila Bair, head of the U.S. Federal Deposit Insurance Corp, said on Monday more banks would fail this year but the agency had enough money to do its job, even as it seeks to boost its reserves.

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[peaceandlove]

U.S. officials push for global coordination

Mon Mar 9, 2009 4:25pm EDT

By Brian Moss

NEW YORK (Reuters) - Top U.S. economic officials pressed for global coordination to battle the financial crisis on Monday and the president of the European central bank said there were signs the world economy may be near a turning point, but stock investors continued to signal their anxiety.

As the G20 nations prepare to meet in London next month, White House economic advisers said more countries need to lower interest rates and step up spending to pull the world out of recession.

But global stock markets slipped toward 14-year lows, and the Dow Jones Industrial Average continued last week's negative trajectory, falling 1.2 percent. The Nasdaq lost 2 percent.

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[Humble Janitor]

It looks like this is the push for the global economy or the world government that the NWO wants so badly.

I say, NO MORE STIMULUSES!

Besides, where's MY stimulus? I want some monopoly money so I can stash it under my mattress and when it becomes worthless, hey, at least I'll have something to use for toilet paper or to burn for warmth!

By the way, I direct this at TPTB and not anyone here at Avalon.

[peaceandlove]

World Bank urges divided G20 to fix banks

Fri Mar 13, 2009 6:17pm EDT

By Axel Bugge and Sebastian Tong

HORSHAM (Reuters) - More spending will give only a brief "sugar high" if G20 nations fail to clean up their banks, the World Bank said on Friday as economic powers struggled to agree a response to the worst downturn in decades.

The comments went to the heart of a rift between Washington, which is pushing for governments to spend more, and European capitals, which want rapid moves to tougher market regulation in addition to massive public expenditure.

G20 finance ministers and central bankers were meeting in the south of England under pressure to resolve differences and pave the way for concrete advances when world leaders meet on the economic crisis in London on April 2.

Some progress is being made though.

Switzerland, Austria and Luxembourg offered on Friday to relax strict bank secrecy in some tax evasion cases.

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