Fed ready to aid investment banks
- added July 9, 2008
- 2 responses
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- Hawkmang
- added this
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The Federal Reserve may extend into next year a facility that gives investment banks access to emergency cash if the financial turmoil persists.
The lending facility was put in place in March to stabilise the financial system as Bear Stearns collapsed.
Fed chairman Ben Bernanke also called on Congress to give the central bank more authority to supervise markets.
The Fed will issue new rules next week aimed at cracking down on dubious lending practices.
(End of excerpt)
Full article at link by BBC News
Photo: AP
The lending facility was put in place in March to stabilise the financial system as Bear Stearns collapsed.
Fed chairman Ben Bernanke also called on Congress to give the central bank more authority to supervise markets.
The Fed will issue new rules next week aimed at cracking down on dubious lending practices.
(End of excerpt)
Full article at link by BBC News
Photo: AP
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I think it's funny how the government is willing to set up corporate welfare at the drop of a hat but ask them to help the under priveledged on the street and they say "Well, we can't afford to do THAT. They should have done a better job of managing their finances." Does anyone else see the hypocrocy?TO THE STREETS!!!
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- pissedoffinarkansas
- 1 month ago
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