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Mark on G20 Vows to Restore Lending/Buy Up Toxic Assets

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Here’s another tip of the iceberg story from the G20, signalling what they will try to sell Obama to sign on to the first week in April.

This is more ‘feed the bankers cash for trash’ in my opinion.

Doesn’t solve anything as it’s avoiding the inevitable facing of the music.

Using printing presses to print more deficit dollars/pounds, etc while changing none of the underlying practices or scamsters benefiting from the current corrupt criminals siphoning off the wealth of the world.

I’d love to hear Jon Stewart do an Interview with the G20, as he just did with Jim Cramer!

Now, that would be cheered by every knowledgeable person in the world.

MarkH

G20 vows to restore lending, boost IMF funding
By William L. Watts, MarketWatch
Last update: 2:38 p.m. EDT March 14, 2009

HORSHAM, England (MarketWatch) — The world’s most powerful economic policy makers on Saturday pledged to pull the global economy out of a steep downturn by focusing on efforts to restore bank lending, strengthen financial regulations and boost funding for the International Monetary Fund.

At the same time, they minimized a rift between the United States and Europe over calls by Obama administration officials for substantial increases in government spending plans designed to stimulate slumping demand.

“We have taken decisive, coordinated and comprehensive action to boost demand and jobs, and are prepared to take whatever action is necessary until growth is restored,” finance ministers and central bankers from the Group of 20 nations said in a joint statement issued at the end of a two-day meeting at a luxury hotel in southern England.

The statement said the G20’s “key priority” is to restore lending by tackling problems in the financial system and dealing with toxic assets. In a separate document, the G20 outlined a plan focused on providing liquidity, injecting capital into institutions, protecting savings and deposits and strengthening bank balance sheets.

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