Looks like the FEd is spending money anyway!$630
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
billion into the global financial system, flooding banks with cash tobanks by
alleviate the worst banking crisis since the Great Depression.
The Fed increased its existing currency swaps with foreign central
$330 billion to $620 billion to make more dollars availableworldwide. The
Term Auction Facility, the Fed's emergency loan program, will expandby $300
billion to $450 billion. The European Centralhttp://www.bloomberg.com/apps/news?pid=20601087&sid=a9MTZEgukPLY&refer=home
Bank,
the Bank of England and the Bank of Japan are among the participating
authorities.
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9/29/2008 7:40
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