[Home] [Headlines] [Latest Articles] [Latest Comments] [Post] [Sign-in] [Mail] [Setup] [Help]
Status: Not Logged In; Sign In
|
Editorial See other Editorial Articles Title: US 'irresponsibility' sparked financial crisis: Putin - US spokesman says that's "unfair" US 'irresponsibility' sparked financial crisis: Putin 21 hours ago MOSCOW (AFP) — Russian leaders blamed the US financial system's irresponsibility for the world economic crisis and said it should top the next American president's agenda, as Washington struggled to calm markets Wednesday. "Whoever is elected president, the number one goal will be to shed light on the state of the (US) economy," Medvedev told reporters following talks with Spanish Prime Minister Jose Luis Zapatero in Strelna, near Saint Petersburg. In Moscow meanwhile, Russian Prime Minister Vladimir Putin laid the blame squarely on the US financial system. "Everything happening now in the economic and financial sphere began in the United States," he launched told a televised government meeting. "This is not the irresponsibility of specific individuals but the irresponsibility of the system which claims leadership," he added. The US rapidly rebuffed Putin's charges, warning against "unfair" finger pointing. "We have dealt with this problem, a very complicated and far-reaching problem, in as aggressive a way possible," White House spokesman Tony Fratto said. "To stand here and just dump on what that industry has done because of this crisis is, I think, a bit unfair," Fratto said. Investors had relied on "their own judgement" in putting money into the US system, he added. Global stock markets have dived in recent months as a credit crunch sparked by the collapse of the US mortgage market spread through the global economy, leading to the bankruptcy of several major banks and fears of a deep recession. The US House of Representatives on Monday sent further shockwaves through markets by rejecting a 700-billion-dollar Wall Street bailout designed to address the crisis. On Wednesday, a revised bailout package is to go before US Senate. If passed, it would then return to the House of Representatives on Thursday. "The saddest thing is that we are seeing an inability to take an adequate decision," Putin said in an apparent reference to the US votes. Russian Finance Minister Alexei Kudrin earlier Wednesday described the bailout as the "responsibility of the United States to other countries." Markets in the country were among the worst hit by the credit crisis, with the benchmark RTS stock index falling more than 50 percent since May. In September, the government was forced to pump over 60 billion dollars into the markets after the RTS saw its sharpest one-day fall in a decade. The credit crunch was been exacerbated in Russia by falling commodity prices and capital flight sparked by Russia's intervention in Georgia, analysts said. In a bid to help shelter Russia from the crisis, Putin on Wednesday called on his ministers to strengthen the money markets -- a key source of short-term funds for the banks -- and mobilise national resources. Russia needed to create "a modern credit-finance system that leans on internal resources and thus has a strong immunity to global financial viruses," Putin said. The "safety cushion" of Russia's large financial reserves were insufficient to guarantee the country's economic health, he said. Putin's censure of US financial leadership comes after years of criticism in Moscow of the US-led global financial architecture, whose institutions Putin last year described as "archaic, undemocratic and inflexible." Medvedev, a close Putin ally who has also blamed the United States for the crisis, in July called on Group of Eight leaders to develop "a new international financial system" that better responds to new economic realities. Russia's main markets were relatively stable on Wednesday as investors awaited the US Senate vote. The RTS and Micex closed down 1.88 percent and 1.02 percent respectively.
Poster Comment: Hey McCain/neocons, maybe it is the USA that should be kicked out of the G8 and not Russia??
Post Comment Private Reply Ignore Thread Top • Page Up • Full Thread • Page Down • Bottom/Latest
#1. To: Destro (#0)
It's too bad the Russians are white people and have several thousand operational nuclear weapons. The dark-complexioned cavemen like ObL allegedly living in the mountains of Afghanistan made a much better enemy because everyone knew they couldn't really fight back. Now a majority of the world even knows they didn't even do what they were accused of doing. You can demonize Putin, Medvedev etc., but you really cannot directly start a war with them even after they "lost" the Cold War. And all sane observers know this, which means that McStrangelove/Rapture Momma still think such a war is possible and maybe even desirable.
“I would give no thought of what the world might say of me, if I could only transmit to posterity the reputation of an honest man.” - Sam Houston
I'm all for those who stand opposed to the traitors in our government.
That would be our merry band of members here, for the most part.
|
||
|
[Home]
[Headlines]
[Latest Articles]
[Latest Comments]
[Post]
[Sign-in]
[Mail]
[Setup]
[Help]
|
||