Start A Petition

Fed Pumps Further $630 Billion Into Financial System


Business  (tags: Bush, Bernanke, Paulson, Greenspan, Republicans, Neocons, PNAC, bank failures, mortgage crisis, corruption, coverup, lies, liars, illegal wars, Economy, Federal Reserve, Finance, Wall Street, Wall Street Bailout, Wall Street Crisis, Business News )

Blue
- 3825 days ago - huffingtonpost.com
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.



   

We hate spam. We do not sell or share the email addresses you provide.

Comments

Blue Bunting (855)
Monday September 29, 2008, 6:57 pm


Sept. 29 (Bloomberg) -- 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.

The Fed's expansion of liquidity, the biggest since credit markets seized up last year, came hours before the U.S. House of Representatives rejected a $700 billion bailout for the financial industry. The crisis is reverberating through the global economy, causing stocks to plunge and forcing European governments to rescue four banks over the past two days alone.
 

Blue Bunting (855)
Monday September 29, 2008, 6:57 pm
Politics in the Zeros: Spread the meme. Republicans are the party that wrecked America. John McCain’s long history with bank failures and financial scandals makes him uniquely ‘qualified’ to speak to the current crisis.

The next time a Republican friend says McCain is ready to Regulate the financial world... Refer them to ProgressiveAccounting.org
for a really long list of all the DEREGULATION McCain has supported over the past 26 years to get us into this mess.

Then suggest a vote for Obama.
 

Past Member (0)
Monday September 29, 2008, 7:08 pm
??????????????wtf
 

. (0)
Monday September 29, 2008, 7:29 pm
If the Fed can't get the US government to give the OK to print another 700 billion of worthless paper then they will do it on their own and give the worthless paper to foreign banks. They are determined to destroy the dollar.
 

Blue Bunting (855)
Tuesday September 30, 2008, 4:35 am
Why Conservatives Led the Fight Against the Bailout DealTheir revolt was anything but an act of courage to protect American families. Read more »
 
Or, log in with your
Facebook account:
Please add your comment: (plain text only please. Allowable HTML: <a>)


Track Comments: Notify me with a personal message when other people comment on this story


Loading Noted By...Please Wait

 


butterfly credits on the news network

  • credits for vetting a newly submitted story
  • credits for vetting any other story
  • credits for leaving a comment
learn more

Most Active Today in Business





 
Content and comments expressed here are the opinions of Care2 users and not necessarily that of Care2.com or its affiliates.

New to Care2? Start Here.