US pumps another $800bn into failing markets

// added November 26, 2008 // 2 comments //
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http://www.guardian.co.uk/business/2008/nov/26/useconomy-mortgages

US authorities escalated their economic firefighting programme yesterday by pumping $800bn (£500bn) into the mortgage and consumer credit markets, amid further confirmation of a rapidly deteriorating outlook.

The latest move exceeds the $700bn troubled asset relief programme, or Tarp, that performed a taxpayer-backed rescue on the US banking system and, according to economists, underlines how the credit crisis has spread from the corporate to the consumer sphere.

" Hey bartender, can I close out my tab? What's the damage? FOUR TRILLION dollars, WTF?"
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    News and Politics,   Politics,   Money
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    News and Politics,  Politics,  Economy,  Money,  8 more

2 comments // US pumps another $800bn into failing markets

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