In this way, Bush manages to be the most unpopular president of American modern history. As he in the last commented article to them on EE.UU. , the situation of the American economy is worrisome and the problems are continued adding. In the last days, the automotive sector entered scene with Ford (NYSE: F) and General Motors (NYSE: GM) that from year beginning, they accumulate between both, losses by US$ 30,000 million. Before this situation of crisis, General Motors finish deciding the reduction of their production planned in a 20% for the 2009 for in this way, to trim expenses with the aim of avoiding dismissals.
It is that if maintained the production level planned, until ran the risk of remaining without liquidity, had taken which it to colapsar before the lack of financing. Soon after turning 100 years of life, the automotive major of the world faces the possibility of falling in bankruptcy. But returning to the subject of the US$ 700,000 million, Henry Paulson, it announced that with this money of they megaplan of rescue approved by the end of September, will increase the aid to other sectors of the economy to the detriment of banks and other financial institutions, to which no longer it will buy his toxic assets. As a justification, Paulson realised the following declarations in yesterday, which were reflected by site Spanish the Economist : Necesitbamos to act and firmness quickly, and the purchase of unliquidated assets, our initial objective, would have required of more time to be put in practice and it would not have been sufficient given to severity from the problem. When the news that is read the Treasure will stop buying toxic assets, one cannot avoid to be frightened thinking about that it could derive in new falls of banks, which would reactivate the crisis. But the logic that the secretary of the Treasure persecutes is to obtain present with the greater possible rapidity on the economy and since the process of acquisition of toxic assets would delay more time of the wished thing, it is that it looks for to act in other affected sectors to prop up them.