TITLE

Wall Street withering

AUTHOR(S)
De Klerk, Vic
PUB. DATE
October 2008
SOURCE
Finweek;10/2/2008, p20
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses the implications of the $700 billion bail-out plan of the U.S. to ease its banking crisis. It states that the bail-out will increase debt burden by about $10,000/family. According to the author, the American public does not favour the plan due to the exorbitant compensation paid to executives of Wall Street banks. The author also opposed to the plan of the South African government to borrow 100 billion Rand to its banks.
ACCESSION #
34942938

Tags: INTERNATIONAL economic assistance;  BAILOUTS (Finance);  FINANCIAL crises;  SECURITIES industry -- United States;  BANKING industry

 

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