Economic
G-20 Leaders Promise Measures to Fight Global Recession
This is the VOA Special English Economics Report.
Leaders
of the world’s largest rich and developing economies met Thursday in London. The
Group of Twenty agreed to an additional trillion dollars for the International
Monetary Fund and other lenders to strengthen the world economy and trade. President
Obama says the G-20 summit will be a “turning point” in seeking
global economic [...]
US Treasury Details Plan to Rescue Banks
This is the VOA Special English Economics Report.
This
week American Treasury Secretary Tim Geithner announced details of a plan aimed
at removing billions of dollars in bad debts from American banks.
The
government program has two parts. One
involves buying groups of loans, like home mortgages. The second involves buying securities or
financial investments tied to loans. Under
the plan, the federal [...]
Bonus Pay at AIG Strikes a Nerve
This is the VOA Special English Economics Report.
Anger
was the common reaction of Americans this week to bonuses paid at rescued financial
companies. Lawmakers held hearings and President Barack Obama denounced the
extra pay at American International Group. The huge insurance company nearly
collapsed last September.
A.I.G. chief Edward Liddy waits to speak to lawmakers on Wednesday. Code Pink [...]
