Dollar Rises Against Euro on Demand for U.S. Currency Funding

Dollar Rises Against Euro on Demand for U.S. Currency Funding

www.bloomberg.com

The dollar advanced against the euro for a third day as demand for funding in the U.S. currency increased, reflecting banks' reluctance to lend to each other amid a global credit crunch.

(visit the link for the full news article)

I'm reading this in that the Federal Reserve is looking to get permission to pump US tax dollars into other banking institutions.

Once those banks get the funds.. they in turn will be "lending" it to foreign banks who are also tight and are not looking to play ball with each other.

The bailout is nothing more then a cash grab by investors and greedy individuals looking to make a quick buck.

The sad part is.. the US taxpayer is on the hook...

And then they have the audacity to say its for the US citizen that this bailout is for?!?!?!?

www.bloomberg.com
(visit the link for the full news article)

This is a friggin ripoff gone mad. What really gets me fired up is the fact that you can lose money when its in a bank (think about the fdic's now $250,000 insurance). So if you have $3mil in a bank, it goes bust, you get $250,000 and lose the rest. BUT if a credit union or bank goes bust, and you owe them money, you're obliged to pay up right then and there, in full.