Europe, Australia inject money into banks, markets surge

I was quite surprised this morning *not* to have read about Paulson injecting billions into the US banks and semi-nationalizing them. Waiting, as had initially been suggested, makes no sense because time is the enemy in this situation. The longer the process is delayed, the more loans back up and business stagnates. As this article states, the cash is helping today (Europe up 6% out of the gate) but it will not stop the recession. This is a necessary action but we still have more problems to come. The housing problem will continue and corporate earnings are bound to be soft for the next few quarters and beyond.

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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