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CNBC: "They are throwing billions around, but things seem to be getting worse"
WTF?_2
Posts: 4,592 Forumite
http://www.cnbc.com/id/26941535
To counteract a world financial crisis emanating from last year's mortgage meltdown in the United States, the Federal Reserve announced a $330 billion expansion of arrangements to boost U.S. dollar liquidity throughout the global financial system.The action increases the reciprocal swap lines with the European Central Bank and eight other central banks to $620 billion from $290 billion previously, the Fed said in a statement.
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"They are throwing billions around, but things seem to be getting worse," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey. "There's a monster amount of fear out there. This is global contagion, it's no longer just the United States."
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Meanwhile, the world's financial system appeared to be edging closer to collapse by the day, authorities in Europe and the United States struggling keep banks afloat with injections of cash, nationalizations and mergers of necessity.
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Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.
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Comments
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How much of the bail out as been injected so far though?0 -
As one congressman said: "A billion here, a billion there, soon it adds up to real money".No reliance should be placed on the above! Absolutely none, do you hear?0
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