This Week in Finance: Friday, August 21, 2009


Here is a recap of important finance news from around the world.

Summary: Pelosi will not allow health care plan to pass without public option, Chile sees economic recovery and needs new credit sources, Fed Chief Bernanke meets with other finance leaders, Saab no longer bankrupt, and personal finance courses are offered to students in high school.

Chile’s Finance Minister Calls for New Credit
Finance Minister Andres Velasco of Chile spoke at a conference recently stating that while the country has fared well throughout the global contraction and has shown signs of recovery, more must be done and new credit must be made available to meet demand.

Fed Chief Ben Bernanke Meets with Global Finance Leaders
Finance ministers and others in similar positions worldwide met at a retreat in Jackson Hole, Wyoming to plan the next steps for rebuilding the collapse of the global financial markets. Bernanke is set to make a speech.

Saab Emerges from Bankruptcy
Swedish car manufacturer Saab has left bankruptcy behind after being purchased by Koenigsegg, and GM will forgive any leftover debt. But in order to remain profitable, the company must seek new funds from the Swedish government or private investors.

A Personal Finance Curriculum for Schools?
Several high schools are offering personal finance courses to their students amidst one of the worst economic crisis on record. Money mismanagement is a key theme expected to be addressed.

Pelosi Has Strong Opinions About Public Health Option
House of Representatives speaker Nancy Pelosi has remained adamant that she will not allow any new health care plan to pass without a public option. The topic remains fiercely debated by conservatives and liberals.