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Tuesday, 02 December 2008

Crowe has 'plan' to fix financial crisis

1/10/2008 8:58:00 AM.  | AAP and Jesse Perez
Russell Crowe has an Oscar and is co-owner of the Sydney Rabbitohs rugby league team, but maybe his next job should be US treasury secretary.

The New Zealand-born actor announced, during a US TV talkshow appearance, a plan to cure America's financial crisis.

"I have been intently watching the political process," Crowe told talkshow host Jay Leno.

Crowe believes the US government should give each American $US1 million ($A1.26 million).

"I was thinking," Crowe said.

"If they want to stimulate the economy and get people spending so they can look after their mortgage ... give everyone $US1 million."
 
His mathematics however, isn't as good as his acting.
 
Giving the roughly 300 million people in the United States $1 million each would cost $300 trillion. ($300,000,000,000,000)  

Crowe is in the US to promote his new spy thriller with Leonardo DiCaprio and director Ridley Scott, Body of Lies, which opens in Australia on October 9.

The actor is preparing for another film with Scott, Nottingham, based on Robin Hood, and has grown his hair past shoulder length.

"I'm going to play Maid Marion," Crowe, twirling his long hair, told Leno.

Crowe will play the Sheriff of Nottingham and Siena Miller has been cast as Maid Marion.

COMMENTS

Wednesday, 01 October 2008

Am I missing something or has Rusty got his maths a little out? 300,000,000 million people times $1,000,000 = $300,000,000,000. This seems to be a bit more than $700 billion!

Posted by: Brian Callen, Five Dock

 

Wednesday, 01 October 2008

I don't want to be rude, but this is one of the stupidest things i have ever read. $1m for 300m people does NOT equate to $300m, it is in fact $300 Trillion ($US) so NO Russell, this does not 'a fraction of the proposed package' it is in fact greater than 400 times the outlay proposed! Think Russell should have paid more attention in school.

Posted by: Luke N, Melbourne

Wednesday, 01 October 2008

You are in fact both wrong. $300,000,000,000 is actually $300 billion. Much less than $700 billion. Don't even argue with me. Look it up in Google before you respond.

Posted by: George Papas, Robina

Wednesday, 01 October 2008

George, I cannot dispute that the number you have written '$300,000,000,000' is $300 billion. However this is irrelevant, as the multiplication of $1m (thats 1,000,000) and 300m (thats 300,000,000) yields 3 trillion (or 300,000,000,000,000). I agree that Google is a useful tool, however only when used correctly.

Posted by: Luke N, Melbourne

Wednesday, 01 October 2008

george papas, you obviously need to use google yourself because if you did, you would have found out countries that use the SHORT SCALE measure a Trillion dollars as 12 zeroes. Now these countries include USA and Australia. So taking that info, 300, 000, 000, 000, 000 - i see that it has 12 zeroes, as well as the 300 at the start, making it 300 trillion. So maybe it'd be better if you look up google before making a fool out of yourself.

Posted by: Alan Truong, bankstown

 

Wednesday, 01 October 2008

Silly is it? Do you think $700 bill will fix the issue? 1 - 10 in usa are in Mortgage trouble. Fannie/freddie hold more than the USA's Foriegn debt inmortgages. Covered by creditors who have no $. to back them up. Its easy to ridicule when you have no idea? $700 bill would only be the begining of the bail out with the Taxpayer buying up Useless stocks. Look up the term Kleptocracy guys..this credit crunch is designed, will benefit no one but the rich. transfer of wealth is underway!

Posted by: Nick Again, maryborough

Wednesday, 01 October 2008

The problem isn't that the people on 'main street' have no money - most of them with the bad mortgages no money to begin with! Its the fact that these 'dead weight' bad debts are clogging up the system and not allowing normal banking operations to resume. By taking the $700bn &buying these toxic assets at an inflated price, the US Govt is letting the banks get back to business.Basically, its doesnt just come down to the size of the pay-out, but HOW it is used.

Posted by: Luke N, Melbourne

 

Wednesday, 01 October 2008

George Papas you are an even bigger moron than Russell Crowe. You put it into Google and STILL can't get it right?! 3.0 x 10 to the 14th power is 300 trillion. Anyone with year 9 maths would be able to tell you that.

Posted by: DJ C, Baulkham Hills

Wednesday, 01 October 2008

This website http://www.jimloy.com/math/billion.htm clearly states that there are 9 zeros in a billion. Seeing as the figure was (300) 000 000 000, that wouls be 300 billion. You are the moron! hahahaha

Posted by: George Papas, Robina

Wednesday, 01 October 2008

Furthermore, look at my post. I was correcting previous post. I never said anything about the way that these figures were calculated. In fact, even though you missed my point, you are correct in that $1,000,000 x $300,000,000 = $300,000,000,000,000 which is indeed $300 trillion. Not $300,000,000 as Brian had suggested. Apologies to Luke as I misread his post.

Posted by: George Papas, Robina

 

Wednesday, 01 October 2008

jeez, white aussies are stupid, its pretty funny watching you guys count.

Posted by: jin jao, upures

 

Wednesday, 01 October 2008

Some more maths, if sub-prime mortgages in US represent approx 15%, and 15% of the population of 300,000,000 is 45,000,000 people affected, and say there are 3 people per household, so instead of 45 million households there are possibly 15 million households to bail out, divide the $700 billion bail out package between them, giving about $46,000 each, and spread it over a period of 3 years. Surely this is enough to get the personal debt back on track. Along way from $1 million each Russell.

Posted by: A P, Caringbah

 

Wednesday, 01 October 2008

Hi everyone, I used the short scale measurement for a trillion dollars for this article - as the short scale is how Australia and the US measures a trillion - a trillion being a million million. Anyway, we have an exclusive interview with Russell Crowe which will be up very shortly - he explains it all! Thanks,

Posted by: Jesse Perez, Pyrmont

 
 

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