What Wall Street did exactly?
After the Great Depression of the U.S. economy in the last century, Wall Street did not like in 2008 in too great hardship. As a street, Wall Street is still, however, as on behalf of Wall Street culture, the United States the five major investment banks are selling the sale, or closing down, or changing, which has become history as an industry. The Wall Street because of dragging the United States and the world into recession came into a “common enemies” position.
Why is the crisis affecting the people’s livelihood?
At the beginning of the crisis it seemed to be related to Wall Street and well-off investors but very little unrelated to ordinary people in the United States. However, with the deepening crisis in 2008, it was found that the majority of people changed their wallet deflated, less old-age pensions, many people lost jobs, housing have been recovered. Wall Street crisis not only make peoples who wear suits and the hat headache, and gradually all ordinary sad.
How far the government put out a hand to stretch?
Early in 2008, before a comprehensive financial crisis erupted, U.S. President George W Bush and Treasury Secretary Henry Paulson had repeatedly stressed that the local economy into little problems did not cause illness, so refused to intervene too much. However, until September, with some of the big Wall Street financial institutions collapsed one after another, the U.S. government put out hands after another, everywhere “money”, not even to avoid the banks of “nationalization”, insurance companies, and other financial institutions in crisis.
In foreign exchange market of New York, the U.S. dollar against most major currencies in the West fell
As the Federal Reserve has reduced the benchmark interest rates close to zero level and in view of recent U.S. economic reports released and during the holidays the weak performance of the retail industry, it was showed that the U.S. economic outlook remained bleak, and the market demand for the dollar was declining. In addition, since this summer U.S. dollar rose sharply driven by the U.S. hedge sentiment, so investors for profit-taking in the end and the dollar under pressure.
In the stock market of New York, the three major stock indexes down
Xinhua in New York, on Dec. 29th (Reporter Yang Liu) the termination of Kuwait to set up a joint venture with Dow Chemical Company as a news, put pressure on the market and offset the positive impact of the rise of energy stocks. On 29th, in New York, the three major stock market’ indexes were lower. On the day the New York Stock Exchange was light. Kuwait decided to cancel the establishment with Dow Chemical of petrochemical joint venture. Dow Chemical shares fell 19%.
“Outlook”: bankruptcy trustee storm frequency and the financial crisis dragged the world
In the context of globalization, which started in the United States, a financial crisis, was also with its impact on the overall situation. Moreover, the international financial crisis on the world economy will continue to have a major impact on all aspects. U.S. market-based model of laissez-faire capitalism was challenged. The financial crisis has fully exposed the defects of the lack of rules and regulations which the market are not regulated in financial system.
Putin is expected in the second half of next year that an international financial situation will be improved
Xinhua in Moscow on December 29th (Reporter Zhao Jialin) on 29th, Russian Prime Minister Vladimir Putin told reporters that he expected the international financial situation next year was in the third to the fourth quarter next year to improve. Putin said the world economy has never happened like this present crisis on a global scale, so analysts were difficult to make a clear-cut, well-founded forecast. He believed that in 2009 in the third to the fourth quarter, the international financial situation was to improve the present trend, and in 2010 to Russia and other countries the world economy have a positive impact.
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