US economic meltdown - US rivals react to economic woes
Mr Obama implicitly attacked President Bush for the economic situation. He blamed "the most serious financial crisis since the Great Depression" on "eight years of policies that have shredded consumer protections, loosened oversight and regulation, and encouraged outsized bonuses to CEOs while ignoring middle-class Americans". "Too many folks in Washington and on Wall Street weren't minding the store," he said.
Note EU-Digest: Bloomberg reports that U.S. stocks are declining, erasing more than $300 billion in market value, as Lehman Brothers Holdings Inc.'s bankruptcy and tumbling commodities increased concern that the slump in financial markets and the economy will deepen.
No comments:
Post a Comment