Awaiting Crucial G7 Comments

The G7 is meeting here in Washington right now and a joint statement is expected at about 6 p.m. Treasury Secretary Hank Paulson will hold a press conference at 6:45 p.m.

The G7 is made up of the finance ministers from Canada, Italy, England, France, Germany and Japan, along with the U.S.--Paulson.

They are meeting in Washington this weekend and investors hope the G7 can come up with a coordinated effort to get credit flowing again, the lifeblood of the world economy.

"Markets and people the world over will be looking for a clear sign that governments of the largest economies in particular are prepared to act -- they are prepared to take firm measures that will make a difference," Alistair Darling, Britain's chancellor of the exchequer, told Reuters.

-- Frank Ahrens

October 10, 2008; 5:40 PM ET  | Category:  business
Previous: The Impossible-To-Please Markets | Next: G-7: No Specifics for Global Credit Rescue


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G7 con clusions
1. You guys are screwed.
2. They will lose millions of dollars.
3. There is nothing we can do about it.
4. More meetings are needed.
5. Go home.

Posted by: Anonymous | October 11, 2008 6:01 AM

The same old problems with a new rub.

Mr. Mozilo received about $120 million in compensation and proceeds from sales of Countrywide in 2007, while Mr. O’Neal walked away from Merrill Lynch with a $161 million retirement package.
Like all this thievery is something new. It's all high end. There's another plan.
See them for your bailout money scum. Stay locked and loaded.

Posted by: Trouble | October 11, 2008 6:07 PM

Now the feel gooders want to hug it out. Back to reality for just a second. It's really looking more like a shoot out here. People tend to forget we are at war here for our liberty and success.

Posted by: Anonymous | October 13, 2008 2:32 AM

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