I like to use Saturdays to contemplate what has been accomplished during the week and appreciate all that I have (or these days, all that I don't have). Enough said. Of the making of blogs, there is no end. The sun shines whether or not we see it or feel it. Although "there is nothing new under the sun," for better or worse, we live in interesting times.
The International Monetary Fund (IMF) announced an initial agreement with Iceland on a $2.1 billion two-year loan to support an economic recovery program to help the island restore confidence in its banking system and stabilize its currency.
The IMF is currently discussing possible loan packages for Hungary, Iceland, Pakistan and the Ukraine.
The IMF has more than $200 billion of loanable funds and can draw on additional resources through two standing borrowing arrangements with groups of IMF member countries.
On the home front: MBIA Inc, the largest U.S. bond insurer, and its No. 2 rival, Ambac Financial Group Inc, met with regulators earlier this week to push for a way to tap into the federal government's bailout plan. Remember, light shines brightest in the darkest places!
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