Jesus Christ Is Lord

That every knee should bow and every tongue should confess that Jesus Christ is Lord to the glory of God the Father!

Posts Tagged ‘economic crisis’

Germany, France deny plans for European bank fund

Posted by Job on October 6, 2008

ROME, Oct 5 (Reuters) – German and French officials denied on Sunday that they were set to endorse a common fund to bail out European banks after Italian Prime Minister Silvio Berlusconi was quoted as saying all three nations would back it.

“There’s no proposal for such a fund,” said a French official, who spoke to Reuters on condition of anonymity. Officials in Berlin and London also denied plans for a European Union-wide bailout.

“There’s no change from the statement issued on Saturday,” the French official added, referring to a joint statement the leaders of France, Germany, Italy and Britain issued after they met in Paris on Saturday — a statement that made no mention of a fund.

Berlusconi was quoted by Italian agencies as saying that his economy minister, Giulio Tremonti, would propose setting up the fund at a meeting of EU economic and finance ministers in Luxembourg on Monday and Tuesday, and that the plan was already assured the backing of Germany and France:

“Tremonti will propose to Ecofin the setting up of a common fund worth 3 percent of GDP … Yesterday (German Chancellor Angela) Merkel couldn’t accept because she didn’t have the powers, today she has said she agrees. Tomorrow France will do the same.”

But German Finance Ministry spokesman Torsten Albig said Germany remained opposed to a common fund to bail out Europe’s banks.

“This was an issue in Paris and there is no need to go over it again,” Albig said. Asked whether Germany supported the latest Italian proposal, Albig said: “No. Nothing has changed.”

Berlusconi said that he was confident that Britain would also agree, ANSA news agency reported.

But a British finance ministry official, asked about Berlusconi’s reported comments, referred to Prime Minister Gordon Brown’s statement on Friday that there was “no currency” to the suggestion of a European-wide fund. (Reporting by Gavin Jones in Rome, Brian Love in Paris, Iain Rogers in Berlin and Matt Falloon in London; Writing by Dominic Evans; Editing by Kevin Liffey)

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Europe Races to Shore Up Banks as Crisis Spreads

Posted by Job on October 6, 2008

http://online.wsj.com/article/SB122322574130505585.html

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The Bailout May Result In The Government Obtaining Church Mortgages

Posted by Job on October 6, 2008

After the Bailout, Government-Owned Churches?

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If Welfare Destroyed Black America Imagine What It Will Do For Wall Street!

Posted by Job on October 1, 2008

Still more evidence that opposition to HUSSEIN Obama is why this bailout may pass.  I direct your attention below.

Check this out from bomb throwing columnist Jason Whitlock as reported by the estimable brother Laz

Jason Whitlock (left) is a sports writer I enjoy reading immensely. He often says things that need to be said despite pressure from the community not to say them.

In last week’s column, before he listed his sports thoughts he dropped this line:

If welfare destroyed black America, how can welfare save Wall Street and fix America’s economy? I thought we all agreed that welfare was terrible.

Just yesterday, the House of Representatives voted the proposed bailout down.

What I know about high finance amounts to a hill of beans (if that) so I must ask, is this an oversimplification on Whitlock’s part? Or is this an accurate take?

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