Zhang 700,000,000,000 may be "Band-Aid," the central bank has drawn up plans to deal with

U.S. House of Representatives Speaker Pelosi (left) has been signed by the display of financial aid programs.


Beijing at 1:25 on October 4, the U.S. House of Representatives by 263 votes in favor and 171 votes against the results of the vote through a high-profile 700,000,000,000 U.S. dollars rescue package, President George W Bush to immediately signed into effect . Treasury Secretary Henry Paulson later in the day that it would immediately begin using the new powers, this huge sum of money well spent.

Some analysts believe that the plan marks the entry into force of the U.S. government has finally taken the financial sector the long-awaited first step to rescue the market. But the rescue package itself, the fate of the dust has settled, the focus immediately on its ability to help this government come after a long way to rescue the market.

[Approved] Bush: to rescue the market, but will not start overnight success

The new program was adopted easily

Rescue program amounted to 700,000,000,000 U.S. dollars, the core content is to empower the government to buy banks and other financial institutions, non-performing assets, to help them out. The revised program before the House of Representatives on September 29 have been rejected once. House of Representatives that the word "no" to the global economic community by surprise, the stock market into a price drop. To allow members who are against the idea of change, the Bush administration to make some changes to the program, revised in the new program to maintain the original core of the program remain unchanged, the increase in the number of tax cuts on taxpayers and the protection of the interests of the terms, At the same time to carry out lobbying. Changes to the version on October 1 was approved by the Senate. 3 House of Representatives vote on the new program was made final word.

A vote by the process of live television. House minority leader from the Democratic Party and the first woman Speaker of the House of Representatives delivered a speech respectively, very strongly that the benefits of the program, enumerate problems such as unemployment, and hope that the members considered. Voting will be a long 15 minutes, the members one by one vote. CNN broadcast images show that with increasing favor, the Dow Jones index was also higher. The end result is set at 263 votes to 171 votes on. The new program agreed to.

The Associated Press that the first veto of the 25 Republicans and 33 Democrats this change of position.

1 hour immediately after Bush signed

Clearance program, the speaker of the House of Representatives once again addressed the meeting. And his speech before the vote compared to her face more than a smile were, in the words were more relaxed. White House spokesman issued the results of the vote in a few minutes after that announcement: President George W. Bush will be in about half an hour after the news conference to be held.

Press conference to be held on time. Bush pressing Yiyuyanbiao mood. He said, "I sent the final plan to sign on." Bush expressed his gratitude to the members. "Through this program, we have to prevent the crisis on Wall Street spread to all communities. We can show the world that the United States to stabilize the financial markets, to maintain a global leadership role in the economy." Bush pointed out that he has always advocated free enterprise, the Government Should only intervene when necessary, and this is indeed the case that the Government must take action. He said that we have taken bold action to prevent the crisis on Wall Street spread to the entire country.

Bush said the bill the Government to provide a series of new tools to allow the government to buy some assets of the problem, and the establishment of the new insurance scheme to protect the value of other assets. Once the market is restored, the government's acquisition of non-performing assets is expected to raise the value. At the same time, Bush reminded the American people, do not expect a miracle will strike at any time. "It (package) will be implemented as quickly as possible," he said, "but it will not succeed overnight. We have to take time to design an effective plan to save the market to reach the goal, not a waste of taxpayers at the same time Money. "Bush also said that as long as there is confidence that the United States will overcome the challenge of restoring economic prosperity.

About 1 hour later, Bush will Huibi financial rescue program was signed into law.