The global watch is now all on the US$700 billion rescue package which the government of President Bush is working towards getting it passed in the House with top urgency to restore the confidence in the financial system.
Ultimately the House has to vote it through to salvage the States from a collapse.
Although the rescue package of 700 billion is far from sufficient, it is at least good enough to hold the market together, without which the system would melt down.
This gigantic sum is a strong dose of confidence to the global market. The Bush administration is going to put it to another vote today, hoping it would slip through. We just have to keep our fingers crossed.
Positively we are going through a hard time. The torn-apart global finance has made investors panicky, but nonetheless, it has also created excellent opportunities.
The global finance can be put together again. So don't be over-pessimistic. Don't let the global opportunities slip by, as one prominent entrepreneur in Sibu put it.
(A powerful Wall Street rally on Tuesday helped lift global markets a day after a near-meltdown as investor hopes grew on the prospects for a new U.S. financial rescue to erase the crisis.)
4 days ago