700 billion paid by you!

The government of The United States of America now approved Section 118 of the house bill, witch allows them to even raise their debt ceiling, handled with in Section 122. It also consists if mechanism, to create money to solve the financial crisis. If the money they are using to weld a crack in the financial sector consists out of nothing but thin air, these operations will shortly be followed by massive inflation. From another perspective we can put it this way: due to the inflation, it will be the citizens of The United States of America that will pay the 700 billion dollars.

MERCHIERS Sébastien

Group 6

Mile high contradiction

However the demand for private jets is still very high, the financial crisis did have an impact on the private jet users: the most privileged air travellers are flying fewer hours.

Due to the high fuel prices and the convulsion in financial markets most private jet owners are strongly reducing their flight activity and some are even putting their aircraft up for sale.

Despite this being happening, several business jet makers are still confident, because they have new orders for smaller jets. Jack Pelton, chief executive of Cessna, says: “Growth will probably slow but there will still be growth.”

Jasmien De Winne

 

Source

Dexia may finally be saved

This midnight, the bank Dexia was rescued by the politicians of Belgium, France en Luxembourg. 

Dexia can count on the three governments who will be in the position as guarantor for the loans till the end of October 2009 . The main goal is to ensure the liquidity of the renewed bank. Dexia hope their actions will be back on track and stocks will raise after the recent financial crisis .

Pieter Gistelinck

"Can't someone else do it?"

As the economy sags and neither Barack Obama nor John McCain seems to be able to manage the credit crunch, the electoral prospects of Miss Jessica Simpson soars.

In a small town in Utah, millions of citizens started singing in choir "While our men such as Bush, Barack and Oboma won't rescue us from bancruptcy, babe Simpson can!". This song is part of the successful campaign slogan "Can't someone else do it?" from new presidential candidate, Miss Simpson. Jessica's fans are jubilant about her promise to improve and establish a real system of bankassurance which contains an enormous appreciation and even a tax exemtion to all middle class citizens.

Wannes Dolfen

Restaurant offers 10% off to all Fortis shareholders

It's been a rough couple of weeks for the Fortis shareholders, but restaurantkeeper Chris Verdonck, a shareholder himself, has come up with a suprising initiative. He offers everybody with a share in the bank a 10% discount. He hopes other companies will follow his example, so dupes can recover a part of their losses.
The Fortis share reached another all time low yestarday with a value of € 1.2160 which is nothing compared to the € 29.5767 in April 2007.

Willem Nimmegeers

“Our main goal is to provide high quality Financial services”

The last few weeks, the people’s trust in Kaupthing Bank dramatically decreased. Kaupthing Bank offered the people an internet-bankaccount with 4+2%, which encouraged them to place their money with the Icelandic bank. The financial institution has decided to block the money temporarily because of the confidential crisis. Up till now people will get at best 20.000€ of their money back.

Charlotte Derie

Interesting interest

The interest rate in Iceland has been raised to 15 per cent by the central bank.
The increase in the rate of interest was unexpected, nevertheless inevitable and necessary to limit the rising inflation and the declination of the national currency, the krona.

However, the interest rate is the fundamental link between the pure financial system and all other economic activities. Touching the interest has an immediate and direct impact on investments, costs of ongoing projects which may turn the financial crisis into a nationwide recession.

Source: http://www.iht.com/articles/2008/03/25/business/icebank.php

Ankatrijn Kindekens