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Fed pumps billions more into banks

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posted on Oct, 7 2008 @ 07:43 PM
So the squander of tax payer money started,

The central bank said that its so-called term auction facility, which accepts financial instruments such as mortgage-backed securities as collateral, will be doubled immediately to $300 billion. The total amount available to banks will rise to $600 billion under the moves announced Monday.

In addition, the Fed signaled it could increase the amount available through those loans to $900 billion by the end of the year, increasing the amount the Fed will loan through the program by $750 billion above its previous limit.

So the fed is working fast very fast, as the European markets keeps falling so the fed is in full gear pumping billions to help.

So as the experts "explain" that the feed needs to pump as much liquidity as needed so that is how billions will be squandered trying to fix something that can not be fix.

So how much oversight will be there if already the fed has expanded the amount that they started with.

Coupled with the Treasury Department's plan, the two major institutional authorities of American banking and finance pieced together over $1.4 trillion in lending programs in just a few weeks.

And this is not even including the previous bail out money and the European banks.

posted on Oct, 7 2008 @ 07:48 PM
I've heard that Japan has been pumping billions into their credit markets for 14 days straight since this panic took hold.

Other reserves have been doing the same in almost all developed economies to stop credit from drying up completely.

The whole thing is seemingly on life support.

posted on Oct, 7 2008 @ 07:51 PM
SO what did I learn today..

Money is debt meaning it really isn't money, so therefor if someone owes said money cause of whatever including interest there is no way to pay back that said money + interest, therefor we have a total breakdown on everything..

This is yet again why we get screwed, Welcome to world economics 101.
Thanks for playing I see ya on the streets..

posted on Oct, 7 2008 @ 07:53 PM
I am so sick of it all

people are pushed into more and more slavedebt.

Where the hell is our bailout????

posted on Oct, 7 2008 @ 07:53 PM
The confidence that the 700 billion bail out package was supposed to provided did nothing to the markets.

This how good the confidence on the US is right now.

Yesterday was an ugly day for Wall street and today was not better.

Markets in Europe, Russia, Brazil, Indonesia and the Middle East were all down on Monday, a domino effect of the poor performance in U.S. markets. Stock markets in emerging economies experienced their worst day in 21 years, and Russia and Brazil both closed their markets down early to halt the rapid decline.

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