I suppose based on recent event Paulson will be bailng out the emerging markets as well. Bunch of idoits. A $111bn backlog of bonds that need to be refinanced over the next year has built up in the emerging market economies and raised the threat of defaults and company closures. With the ability to raise money in the debt markets severely restricted because of the credit crisis, emerging market banks and companies could struggle to roll over the maturing debt, according to ING (NYSE:ING) Wholesale Banking. David Spegel, global head of emerging markets strategy at ING, said: "Many corporates and banks in the emerging markets are highly levered without cash to fall back on. These will struggle should they need to raise money in the markets. http://us.ft.com/ftgateway/superpage.ft?news_id=fto092120081806381698&referrer_id=yahoofinance
Russia will still have roughly 7% growth this year. I think the whole world will be restructuring substantially after this. No one can trust in US consumption credit any longer. The international financial press are not exactly using silk gloves when talking about the US financial system. They call the political campaigns completely rotten as well - that the errors are the US system of politics and finance. Well, I guess there is only more to come...