US$700 Billion Bailout Package
25 Sep, 2008 | Written by 
admin | under Events around Town
admin | under Events around Town What does George Washington think of the US$700 Billion bailout package by the Bush administration? We can’t wake him from his grave but his expression says it all.
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There has been talks about it being much more than that is needed to bail them out but I guess all the world can do is simply watch as the big giant starts to sway. Good thing most of us here in the Philippines wont get affected so much.
Well, I don’t know about that. The repurcussions are global although you’re right that it will impact US citizens, especially those who have investments in Lehman Brothers & AIG related financial products a lot more.
What is expected is slow down in Philippine exports from the US, including outsourcing of jobs.
It’s affecting everyone here definitely- stock markets across the world have stalled or are falling waiting to see what the bail out package is.
Peter Drucker once said, “No matter how clever the gambler, the laws of probability guarantee that he will lose all that he has gained, and then a good deal more.”
Nothing is new under the sun—Barings, Bankers Trust, Yamaichi Securities just a few years ago and now Lehman Brothers, AIG, Freddie and Fannie Mae. The list is actually endless and the excuses the same- “we didn’t know what was going on, some rogue trader caused our downfall.” Here is even more info on financial con-artists.
Yep, darn those 20 some year old kids. It’s all their fault.
True very much so
oh well i guess we all have to cross our fingers. A lot of call centers may be affected by this too 