Federal Reserve Chairman Ben S. Bernanke is being forced to throw out four decades of monetary history by a financial system choking on miscalculated risks and a deepening recession.
Bernanke and the four Fed governors voted yesterday to become creditors to Bear Stearns Cos., a securities firm that isn't a bank, by invoking a law that hasn't been used since the 1960s. Three days earlier, the Fed said it would swap Treasury notes on its balance sheet for privately issued mortgage-backed securities held by Wall Street firms.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aY2RvFA.yO_Q
http://www.bloomberg.com/apps/news?pid=20601087&sid=azptE74xBCFI
Subscribe to:
Post Comments (Atom)
Popular Posts
-
Google url shortener service, goo.gl , is now much improved with newly included features like easier copy and paste, and ability to delete e...
-
Get accurate and real-time bus arrival information for public bus operators in Singapore, including SBS Transit, SMRT Buses, Go-Ahead Singap...
-
I would like to apologize that sigining of my guestbook is not possible at the moment due to an unexpected bug. There is already 74 entries ...
-
According to the Firefox developer team, Firefox 3 will be launched on 17th June 2008. From the Firefox Developer blog, they are attempting ...
-
*********** Try to sleep now, close your eyes Soon the birds would stop singing Twinkling stars, are shining bright They'll be watch...
No comments:
Post a Comment
Do provide your constructive comment. I appreciate that.