G-20 to give $1 trillion to IMF, World Bank (renounces protectionism)

AP on Yahoo ^ | 4/2/09 | Jane Wardell - ap

[NormsRevenge]

LONDON – Global leaders pledged an additional $1 trillion to restore credit, growth and jobs in the world economy on Thursday, exceeding expectations in their plan to deal with the financial crisis.

The Group of 20 nations also agreed to renounce protectionism and pledged $250 billion in trade finance over the next two years — a key measure to help struggling developing countries, whom they promised to give a greater say in world economic affairs.

The G-20 also outlined a raft of policies to rebuild trust in the financial system, including a crackdown on tax havens and hedge funds and new rules on linking executive pay to performance.

[NormsRevenge]

U.S President Barack Obama (L) laughs with Italy's Prime Minister Silvio Berlusconi (C) and Russia's President Dmitry Medvedev as they pose for a family photograph at the G20 summit at the ExCel centre, in east London April 2, 2009. World leaders are set to declare an end to unfettered capitalism at a G20 summit on Thursday after France and Germany demanded they act fast on promises to prevent a repeat of the worst economic crisis since the 1930s. REUTERS/Stringer (BRITAIN BUSINESS POLITICS IMAGE OF THE DAY TOP PICTURE)

[RC2]

More of our money, which we don’t have, going to other countries. I’m sure that the young lady, trying to feed her children, trying to keep her job, make her house payments, really cares about the IMF.

[elpadre]

What is the breakdown in dollars between each of the 20??

[BGHater]

Thank you, thank you world leaders. You are our saviors. Thank you.

I can't wait to be taxed more. Thank you.

[detective]

“Global leaders pledged an additional $1 trillion”

Global leaders my ass. This money is going to come from the US taxpayers. The taxpayers are already committed to trillions of dollars in future spending, now more money is being stolen from them.

[KansasGirl]

FOX just said that the G20 leaders are doing a joint press conference but Obama will not be present. He has opted to HAVE HIS OWN PRESS CONFERENCE!

His arrogance knows no bounds.

[Islaminaction]

How much money have we wasted on “struggling countries”?
Why don’t we just face the fact that not all countries will end up like us or other major modern countries?

[Las Vegas Ron]

NWO...I guess to ask under what authority zer0 has to do this would be a waste of time.

[Islaminaction]

His goal is to lead the world. It is all about him and his leftist ego. He is one creepy dude.

[RC2]

That’s what I would like to know. I would bet that the One has committed to the bulk of it.

[KansasGirl]

So far FOX has said that Japan & EU have both promised $100 billion each, so my guess is U.S. taxpayers are stuck with the other $800 billion.

[alex]

Who is printing all these money? Is it going to be printed in dollars?

[mikelets456]

I’m moving to the F’N moon...

[Girlene]

$800 billion - that’s probably not far off, Kansasgirl

[a fool in paradise]

Can we give the IMF 1,000 Zimbabwe billion dollar notes?

[dalereed]

Anyone that can’t survive on their own should just drop dead!

[xzins]

And my guess is that the US share is about 500 billion.

In short, Obama just added another half a trillion dollars to our debt.

[FollowingTheGrace]

So $1000 per US resident (assuming we ONLY pay 25-30% of total)...is anyone going to ask us? ...nevermind...

Does Congress have to vote on this kind of expenditure?

[rightwingintelligentsia]

He needs his teleprompter.