The Elitist

October 13, 2008

Britain Saves the World

Filed under: Britain, Europe, Financial Crisis — The Elitist @ 2:30 pm

Remember when America was the beacon of hope? The shining city on the hill? When what America did led the rest of the world? We will never forget. Well, 9/11 changed things and now we are whimpering through every crisis with indecisiveness. Despite calls for a bailout package by the end of the week, or else certain doom, we waited an extra week and were surprised when it didn’t work out.

But now Britain, which is a very small economy compared to the U.S., has taken the lead and pushed their own bailout plan. Europe followed suit, and even the U.S. is left taking their lead. The new bailout will actually buy stakes in the banks they help, something Paulson has fought against, even though he is now also proposing the same. If things keep going this way, we may find ourselves colonies once again with the Queen’s picture on our money. At least then it would be worth something.

NY Times – Europe’s Bailout Actually Works

NY Times – Stocks Up

Advertisements

Blog at WordPress.com.