Australia's Rudd Welcomes and
Helps Design U.S. Bailout, Zoellick Praises Cox' SEC
Matthew Russell Lee of
Inner City Press at the UN: News Analysis
September 23 -- Not only would the
billion bailout being debated in Congress benefit
it emerged Tuesday at the UN, the details of the bailout are being negotiated
with other governments. Inner City Press asked Australian prime
Rudd which of his country's companies stand to benefit from the bailout
designed and clarified by the Treasury Department's factsheet.
Treasury and Central Bank are discussing with their American
full and final details of the package," Rudd answered. Video here,
from Minute 10:32. Rudd then said he was
"reserving comment" but that "we welcome" the bailout.
Why not? What a windfall for a relatively
affluent country like Australia to have its financial institutions
by the U.S..
Kevin Rudd at UN, specifics of U.S. bailout not shown
Press asked World Bank president Robert Zoellick, who appeared along
at the microphone in front of the UN Security Council on Tuesday night
thinks of the proposal to ban all short-selling. Zoellick said he is
involved in the developing world, but that Paulson and Bernanke and the
taken "important and good steps." The SEC, of course, has done
nothing to date but prohibit so-called naked short selling. Now he is
speaking about credit default swaps.
President Sarkozy, preening for the reporters traveling with him, said
corporate CEOs got bonuses during the good times, it is impossible for
now claim not to be responsible for failures. He did say it, but we
rather than a bailout, it might be time for a jail-out. Or a jail-in,
case may be.
Watch this site, and this Sept. 18 (UN) debate.
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