US pumps another $800bn into failing markets
source: http://www.guardian.co.uk/business/2008/nov/26/useconomy-mortgages
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- bansheewail
- added this
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?"
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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pokesmot
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F this!
- 3 years ago
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pokesmot
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bansheewail
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" Hey bartender, can I close out my tab? What's the damage? FOUR TRILLION dollars, WTF?"
- 3 years ago
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bansheewail
