September 26, 2008

Germany blames US for financial crisis

Following the speech by President Bush the other day, there has been a lot of feedback from the private and public sector not all of it being good or supportive of the plans or the argument that he put across as being the cause for it.

Peter Steinbruck the German finance minister has come out as being very vocal as to where the blame lies for the current financial crisis.

“Investment bankers and politicians in New York, Washington and London were not willing to give these up,” he said. “The financial market crisis is above all an American problem”

Mr. Steinbruck added, “The U.S. will lose its status as the superpower of the world financial system,” he told the Bundestag. “The world financial system will become multipolar.”

Source [Last Reporter]