Good News for a Change, But the Unchained Fed Inflates Onward
Writes Manuel Lora:"Ah, but there's also this; they won't give up: 'The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis since the Great Depression. The Fed increased its existing currency swaps with foreign central banks by $330 billion to $620 billion to make more dollars available worldwide. The Term Auction Facility, the Fed's emergency loan program, will expand by $300 billion to $450 billion. The European Central Bank, the Bank of England and the Bank of Japan are among the participating authorities.'"
comments powered by Disqus
David T. Beito - 9/29/2008
This is a day to celebrate. It will very difficult to get a coaltion for a new bill. If it caters more to the House GOP rebels, for example, the Democrats will switch their votes and vice versa.