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[rayzentz AT aim.com]

My question is this.   The Fed could have done this at any time.   Why 
wait until after Congress said no?



If Con is the opposite of Pro, is Congress the opposite of Progress?

Ray


-----Original Message-----
From: Lynn Wigglesworth <lynnw1366 AT hotmail.com>
To: homestead AT lists.ibiblio.org
Sent: Mon, 29 Sep 2008 4:10 pm
Subject: Re: [Homestead] Fed injects $630B into Financial system



Does this have anything to do with the 'bailout', or is it in addition
to the bailout? Everyone is panicking about $700 billion, and they slip
$630 billion through with little notice? Is this unusual or do they do
this kind of thing all the time and just not tell us?

Lynn Wigglesworth


Lisa K.V. Perry wrote:
> Looks like the FEd is spending money anyway!
>
> > From bloomberg.com:
>
> Fed Pumps Further $630 Billion Into Financial System (Update3)
>
> By Scott Lanman and Craig Torres
>
> Sept. 29 (Bloomberg) -- The Federal Reserve will pump an additional 
$630
> billion into the global financial system, flooding banks with cash to
> alleviate the worst banking crisis since the Great Depression.
>
> The Fed increased its existing currency swaps with foreign central 
banks by
> $330 billion to $620 billion to make more dollars available 
worldwide. The
> Term Auction Facility, the Fed's emergency loan program, will expand 
by $300
> billion to $450 billion. The European Central
> Bank,
> the Bank of England and the Bank of Japan are among the participating
> authorities.
>
> To read remainder of article:
http://www.bloomberg.com/apps/news?pid=20601087&sid=a9MTZEgukPLY&refer=home
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