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The Credit Cruncher was conceived to help you to keep up to date with credit crunch and recession developments, it provides some helpful credit crunch advice and it addresses personal debt. The Credit Cruncher also seeks to explain how the credit crunch started and shed some light on the worldwide recession. Recently, we have begun to look at how BREXIT will affect the UK economy. Please feel free to leave comments where relevant.

25 Mar 2009

New Powers for US Treasury

The US Treasury is set to lay out it own plans for absorbing toxic assets in a similar fashion to what has been done in the UK. They have also taken similar action by employing the same kind of quantitative easing strategies that Gordon Brown's administration have been pursuing.

Understandably the US taxpayers are concerned about liabilities that are being undertaken in their name and will be pressing for punishment measures where possible and AIG is under the spotlight much as RBS is in the UK.

President Obama is pushing for unprecedented powers that will allow the US government to effectively dismantle failing financial houses such as the insurance giant AIG and convert saleable assets into cash to minimise the cost to the taxpayer. Much shutting of stable doors is planned over the coming months..

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