Impairment of Buffett’s Assets near 30 percent which 18 billion US dollars shrink
Following the bankrupt of the casino group of great American real estate tycoon Trump affected by economic crisis, another American investment tycoon — “stock god” Buffett because of large-scale investment in the financial sector of United States, the company assets in fourth quarter of last year has substantially shrunk. According to the United States Securities and Exchange Commission (SEC) disclosure of the data it was showed Tuesday, Buffett Berkshire – Hathaway Company in United States for listed companies had a serious impact on the previous quarter, the company total assets from 69.89 billion U.S. dollars at the end of 2008 has shrunk 26 percent to 51.87 billion U.S. dollars.
The new U.S. economic stimulus planed to sign and a global stock market crash
Barack Obama President of the United States signed on 17th of local time, an economic stimulus pla of 787 billion US dollars. The plan covers almost all economic areas of the United States, in which a total of about 35% will be used for tax cuts, about 65% for infrastructure construction, health care, energy and investment in education. But on the same day, global stock markets fell sharply, with the U.S. Dow Jones index dropped back again to a record low of 7552 points on November 20th last year.
Greenspan denied that “Chinese high savings led to crisis”
“Did not the global economic imbalance lead to a financial crisis, but global economic imbalance is part of the financial crisis.” New York local time, on the evening of the second week, Chairman of the former Federal Reserve Alan Greenspan for the “First Financial Daily” said. Greenspan on the evening of the same day after a speech in the Economic Club of New York said in an interview with this newspaper. He denied the remarks of immediate past president, former U.S. Treasury Secretary Paulson on that “emerging market countries such as China’s high savings rate caused global economic imbalances and led to the financial crisis”.
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