Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-09-24-Speech-3-317"
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"en.20080924.33.3-317"2
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"Question No 36 by Olle Schmidt ()
During the spring, there were further economic problems and strains in the global financial markets, caused particularly by the spreading mortgage crisis. With both Fannie Mae and Freddy Mac now receiving capital injections from the US State, the mortgage market is rocking on its foundations. I was in Washington in July and met a number of Senators who believed that the bottom of the mortgage crisis had not yet been reached and this would not happen before 2010.
How long does the Commission think the financial crisis will continue? What does the Commission think of the signal sent to the market by the USA bailing out companies in financial straits, even though these are not generally protected by the State - first Bear Stearns and now Fannie May and Freddy Mac?
Finally, what does the Commission think of the current and upcoming reviews of existing legislation such as Lamfalussy and the Capital Requirements Directive, given the major risk nowadays of the changes spilling over and damaging the competitiveness of the European financial market?"@en1
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"Subject: Mortgage crisis and financial regulations"1
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