[p2p-research] Fwd: FW: Thanks for buying in, not bailing out

Fri Oct 10 14:23:10 CEST 2008

---------- Forwarded message ----------
From: Wrio Russell <wriorussell at hotmail.com>
Date: Fri, Oct 10, 2008 at 6:30 PM
Subject: FW: Thanks for buying in, not bailing out
To: margaret at loxinfo.co.th, lfeighan at blueyonder.co.uk, beamyred at aol.com,
lllan at myjaring.net, intan at thestar.com.my, jpmaga at yahoo.com,
landmine at jrs.or.th, deirdre at healthtouch1.co.uk, katicasrc at yahoo.com,
ibasella at lycos.com, alessandro at flowinghealth.co.uk,
harrietdarley at hotmail.com, info at piandeiciliegi.it, michelsub2004 at gmail.com,
pearlnet at yahoo.com, adrianac70 at hotmail.com

 This might be of interest.

with metta,

Wrio

------------------------------

Date: Fri, 10 Oct 2008 05:23:15 -0700
To: wrio at reikiway.com
From: avaaz at avaaz.org
Subject: Thanks for buying in, not bailing out

Thank you for adding your voice to the campaign for buy-ins and a global
public rescue plan, instead of bailouts which benefit reckless financiers
most. The petition will be delivered to Finance Ministers of the G7
countries in Washington by the end of the week, and to a Global Crisis
Summit including many heads of state in November.

We do need as many people as possible to join our call, so that we can be
sure it'll be heard. So please - if you haven't already - forward the
message below to anyone you think might share our concerns.

Thanks for all you do!
------------
Isn't the financial crisis worrying - and they're making it worse by bailing
out the bankers, instead of intervening in the public interest to sort it
all out. I just signed this petition supporting a "buy-in" rescue package
instead -- it'll be delivered to the world's top finance ministers at the
end of the week, so you might want to do the same:
http://www.avaaz.org/en/global_public_rescue/98.php

------------
Dear friends,

>From New York to Berlin, Indonesia to Iceland, a global meltdown is menacing
the world we knew. Markets are in freefall, banks have cut off lending and
jobs are threatened, with many warning of a new Global Depression.[1] The
response from leaders has been sluggish, even dangerous -- take the Bush
administration's bailout, a hugely ineffective hand-out to reckless
financiers. But economists and citizens everywhere have put them to shame
with our response -- and our calls for a better way are finally starting to
be heard.[2]

Our campaign for regulating global finance was waved in the European
Parliament by Denmark's former prime minister, helping to win the vote for a
raft of progressive reforms.[3] Our US members bombarded Congress with phone
calls calling for the public to take a stake in the banks for its money and
start to fix the system -- a buy-in, instead of a bailout. While the US bill
was a mess, it left the door open -- and yesterday, as Britain launched its
own bold buy-in plan, the word is the United States too may give the public
a stake.[4]

Only concerted action by the global community now can stop the rot and build
a better system, and we can't leave it to the financiers -- so today, we're
launching an emergency campaign calling on leaders for a coordinated public
buy-in to rescue the world economy. We'll deliver our call for a Global
Public Rescue in 48 hours to G7 finance ministers and again to a bigger
Global Crisis Summit planned for November -- so please sign the petition at
the link below, and forward this email to everyone you know:

http://www.avaaz.org/en/global_public_rescue/98.php

Leading economists now agree that citizens and our governments are the only
force powerful enough to solve this crisis -- only the public can mobilise
the investment and oversight needed to fix the financiers' failings, get the
economy moving and revive things on a sounder basis. The Great Depression of
the 1930s teaches us that we cannot address this crisis with each acting
alone -- only by acting together can countries head off disaster.

How we respond to this crisis will shape our lives for years to come. We're
still a long way from tackling the fundamental problems of the global
economy, but the tide is moving in our direction. So let's take control of
our future in the interests of people not financiers, and raise a worldwide
voice across borders for a global public rescue. 3.4 million of us in every
nation of the world are getting this email -- that's a start. Click below to
sign, forward this email to all your friends and family, and let's raise a
voice our leaders can't ignore:

http://www.avaaz.org/en/global_public_rescue/98.php

With hope and determination,

Paul, Ricken, Graziela, Pascal, Veronique, Iain, Brett, Milena and the whole
Avaaz team

PS Congratulations to all those who supported our phone and email campaign
on Europe's climate and energy package this week -- it was a stunning
victory, we won 95% of what we wanted and our sources say we made a big
difference.

Sources:

1. Indonesia, Russia, Brazil, China and Korea have all suspended markets
after heavy falls; global commodities, including oil, are also now falling
on the expectation of recession; markets in the West have been diving. As
the global meltdown accelerates, banks reliant on money markets have stopped
almost all lending to companies big and small, putting many in danger of
bankruptcy and job losses – see "Financial and Economic System is in Cardiac
Arrest":
http://www.rgemonitor.com/roubini-monitor/253853/

Rich Iceland and poor Pakistan both in danger of going bust:
http://www.portfolio.com/views/blogs/market-movers/2008/10/08/the-sovereign-default-race-heats-up

2. Economists' consensus on the need for a global public rescue:

Financial Times chief economist Martin Wolf: "It is time for comprehensive
rescues of financial systems"
http://www.ft.com/cms/s/0/3dc401f8-949a-11dd-953e-000077b07658.html?nclick_check=1

University of Columbia economics professor Nouriel Roubini: "Policy
recommendations to avoid the meltdown":
http://www.rgemonitor.com/blog/roubini/253933/revisiting_my_february_paper_the_risk_of_a_systemic_financial_meltdown_the_12_steps_to_financial_disasterand_some_new_policy_recommendations_to_avoid_the_meltdown

"New IMF study of banking crises contradicts bailout", Yves Klein:
http://www.nakedcapitalism.com/2008/09/new-imf-study-of-banking-crises.html

3. Winning the vote on financial oversight and regulation in the European
Parliament with Denmark's Poul Rasmussen:
http://www.pes.org/content/view/1401/1700098

4. New York Times and NYU economist Paul Krugman on the UK plan and US
shift:
http://krugman.blogs.nytimes.com/2008/10/09/doing-the-right-thing/

"This would essentially be the plan supported by most economists":
http://calculatedrisk.blogspot.com/2008/10/ny-times-recapitalization-plan-being.html

*ABOUT AVAAZ*

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You are getting this message because you signed "BUY-IN NOT BAILOUT - GLOBAL
PUBLIC RESCUE" on 2008-10-10 07:32:13 using the email address
wrio at reikiway.com.

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------------------------------
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