7:12 AM
Freddy
Wall street stock exchange has decreased on its early trading. This is caused by investor's worries about the Fed's meeting result. Investors and U.S. citizens also still mad and critize about AIG's actions to give bonuses for its executives.
Today's news:
- The Fed is expected to set the rates at their current historically low level (around 0 to 0.25 percent). But investors are still nervous about the Fed's assessment on the economy that will be reflected through the rate decision. The committee was expected to outline its statement at around 2:15 p.m.
- Wall street also decreased due to the taxpayer's anger of AIG's actions that gived $ 165 million bonuses to its executive. Kanjorkski, a member of the House Financial Services Committee and chairman of the House capital markets subcommittee, said that the AIG's action can remove the U.S. taxpayer's patience with the attempt to help Wall Street and make a recovery to the American economy. This action will interfere the economic recovery. Kanjorski said that Liddy must prepare a plan to solve the problem he's not going to interfere with the economic recovery of the United States again.
- IBM gives a positive sign to acquire Sun Microsystems. IBM has made a $6.5 billion offer to buy Sun, which would be IBM's biggest deal ever. I think this decision would be profitable for both company in long term.
- Bernard Maddoff's accountant was arrested on fraud charges. This man has been accused of assisting bernie in conducting fraud in the past 20 years.
Posted in: News
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