House price search
Enter your postcode here to find out how much your property is worth, based on Land Registry data.
RSS Feed
Daily news archive
Expected delays in US $700bn bailout causes stock markets to fall
23 September, 2008
Asian stock markets fell overnight following the lead of the US market yesterday, which fell 370 points (3.27%), as the expectation was that there would be delays in enacting the Hank Paulson $700bn rescue plan, with London expected to go lower when the market opens shortly.
Both Republicans and Democrats are calling for more time to debate some of the issues, particularly the level of pay that bank chiefs should get as they are blamed for the bad loans that have created the crisis in the first place. There are also calls for more help for the homeowners who face losing their homes.
Overall there is also concern that Mr Paulson has been handed too much power, with some believing that $700bn being put in one persons hands unwise.