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World leaders promise to revive global economy but take few steps

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14 Comments
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Promise...let's see how financial markets/investors react to it this week, empty promise or anti-depressant.

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It is kinda funny that all these people dance around the problem, but no one talks about the elephant in the small room. Whatever the G20 comes up w/, I'm sure we can do better in Peru later this month.

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Something needs to be done against speculators trying to weaken or disrupt financial markets for person gain as well.

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I agree with SuperLib,

Yes they will try but in the end these thieves will just blow it. The markets need to be regulated. To many are destroying it just for a profit.

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If they had the ability to revive it they would of had the power to stop it from failing....

And we all know it wasnt stopped!

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I always wonder about these economic summits. How many millions of dollars were spent so that these bloated old politicians could fly to America and sit around discussing ways to prevent finacial waste in the future? There's no shame amongst the rich and powerful.

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So let's see... there was a huge summit just as the collapse was starting, in which nothing was accomplished. There was an emergency summit after the collapse began, and nothing was accomplished. Nothing was accomplished here, and the sky will continue to fall. I'm not being pessimistic, or at least not trying to, but when the leaders who allowed what has happened to happen 'promise' to deal with it by throwing more money at it, methinks they're just trying to prolong the end result of what's already begun.

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Even if G20 countries solve these problems in global economy, there will a another repetition of these problems.

The problems is caused by laziness,bad management,corporate white collar greed values and corruption on the part of top management people in high office, in financial/insurance companies.

Get the correct people in top financial /insurance companies ,then problem is reduced. If wrong people are at top management levels,this problem will again repeat itself.

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Well I don't know if that's necessarily true, smith. What they're proposing is a pretty radical change from the way things are currently done, something that will involve just about every nation on earth. It's not really something they can fix overnight; it's going to take some time. My guess is that it will take years to implement.

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Like blowing smoke up a dead horse's A$$

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Isn't it a bit unnerving that politicians call what they do a profession? The reason politicans call it living the dream of freedom, is because you have to be asleep to believe it.

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Financial turmoil has already wiped out many of trillions dollars from investors. Normally, stocks values will rise & fall. Without the speculation, financial earthquake will not be so strong.

Some people are doing short sellings for driving the stocks down further. They bought the stock in bargain value & keep selling the same stocks until particular stock value become almost worthless. They are not real investors.

Major financial institutions & traders urgently need the transparency & accounting standards for stablilty. The old fashioned deregualtion & non governement intervention does not work anymore. If there is no co-ordination among the nations, market will not get the stablity in the near future. Economic impact will be harsher & deeper. Time & financial tide will not wait for men.

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I do wonder about the economic summits too, but not because of the money which is spent on them, but because of the impotence of those who put on the show. The impotence to come to a working solution. The impotence to regulate markets and weed out the profiteers and manipulators which include those in very high places. The impotence and unwillingness to protect and compensate those who invested their savings, those who witnessed their money disappear into the pockets of the unscrupulous, the retiring executives taking millions of dollars with them they have no right to get. I could go on . . .

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SuperLib: I could be wrong, but when I read things like: "This despite the fact that the action plan seemed to leaning in most areas far more toward the U.S. preference for boosting oversight and free-market incentives than the European desire for increased regulation and requirements..." I realize that they're proposed cure involves even more DEregulation and reliance on free market, two of the things that led to the current crisis under the bush admin (fortunately he didn't get his way to deregulate things even more!).

I just don't see it happening. I do see the desperation with which they're trying, but I think that should have come, or at least started, some 4 years ago or so at the latest.

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