G-24 finance ministers will meet explosive global collaborative rescue.

<P> In the global financial markets are in a state of crisis the occasion of October 7th the World Bank and International Monetary Fund annual meeting in Washington will try to make central banks more closely linked to restore market confidence. .</ P> <P> Friday, the 24 finance ministers will gather here to discuss how to save the crisis. .</ P> <P> yesterday on the Global Financial Stability Report of the meeting, IMF officials noted that the global banking system due to subprime losses reached 600 billion U.S. dollars, while the subprime mortgage crisis triggered a global economic slowdown .resulting losses have reached 1.4 trillion. .</ P> <P> Gengrang than these figures shocked investors around the world, this week, a bottom line that fell below the psychological 10,000 points. .This occurred in the U.S. market Juzhen premise that Congress passed the Treasury Secretary Henry Paulson proposed $ 700,000,000,000 bailout, the market is still filled with uncertainty and confusion. .Do not believe that this bailout plan will be offset in the short term destructive power generated by the banking system. .How to restore market confidence, is the most important and most difficult task. .</ P> <P> global central banks have begun to take action to stabilize financial markets. .Chinese Premier Wen Jiabao and Australian Prime Minister Kevin Rudd on the phone the next day, Australia's central bank announced the cut of 100 basis points rate cut was the biggest in 1992, a back, a move that helped the market rebound in Asia and Europe. .European countries to stabilize market sentiment, has decided to raise bank savings guarantee amount. .</ P> <P> "We believe that the U.S. bailout plan is a very good program," IMF Monetary and Capital Markets director Jaime Caruana answer session in the day, "First Financial Daily," the question, said, "We think that .moving in the right direction to resolve the crisis is systemic, global central banks in joint action in this global crisis is also extremely important, and we believe that such action will achieve positive results, and ultimately to restore market confidence. " .</ P> <P> 24 countries finance ministers gathered will be known to the world October 10 annual meetings, to discuss how to deal with this global crisis. .Federal Reserve Chairman Ben Bernanke will also be Oct. 7 at noon EST speech, talking about how to further stabilize the market. .</ P> <P> Federal Reserve Federal Reserve decision on interest rates from 7 the same, no cuts, so that Wall Street is quite disappointing. .But the Fed has decided to buy directly from the publisher in March of an asset is not secured by insurance, and commercial paper. .The recent large-scale money-market funds withdrew, leaving the commercial paper market hit. .</ P> <P> money market funds to keep the business running an extremely important role. .It uses investors money, to some large enterprises, such as GM, Ford, IBM for some short-term loans, which is the commercial bonds. .Commercial bonds usually pay higher interest rates than government bonds, is also considered relatively safe investments. .However, starting from September 16, well-known Reserve Primary Fund money market fund losses, a large number of institutional speculators withdrew from the market, (http://finance.) Dare to make the money market business loans, further tightening of credit .. .</ P> <P> the Fed had already reached 3.4 trillion to the assets of money market funds to provide partial guarantees stability but still can not panic, which began 7 to buy commercial paper. .</ P> <P> to Beijing yesterday evening, the major indexes in Europe has stabilized, stocks opened are hovering around 10,000 points. .</ P>.