http://www.guardian.co.uk/business/2008/sep/30/banking.wallstreet
620 billion dollars won't keep it up why would 700 billion?
The bailout was only to give HANK unprecedented Power of control!
Who is bull shitting who here?
"The People" want answers!
A two year old could figure out that that rescue package doesn't have a shot in Hell at working!
WHY do they want HANK to have total control over all businesses and deposits
to do with at his discretion without question or accountability!
Bloodshed is coming to this country Congress! And you will have no one else to blame but your self
for our country going into a civil war!
You have betrayed your people!
Which is a crime of TREASON under the UNITED STATES CONSTITUTION!
Because your actions only serve the State of Israel!
PNAC
JINSA
AIPAC
Federal Reserve which, in conjunction with the BoE and other central banks, increased its reciprocal dollar fund swap arrangements to $620bn (£344bn) - more than double the previous amount.
'They're throwing billions around but things seem to be getting worse'• Central banks in desperate bid to stop system collapse
• Interbank lending markets plunged into more turmoilAshley Seager The Guardian, Tuesday September 30 2008 Article historyWorld central banks desperately tried to stave off collapse of the global banking system yesterday with large cash injections into money markets buckling amid news of another rash of bank failures.
The pound also suffered its biggest one-day fall since mid-1993 against the dollar as dealers focused on the fact that the US government looked as if it was going to approve its $700bn (£389bn) bail-out for US banks while the UK banking system suddenly seemed shakier than before. Sterling fell 2.3% to below $1.80 at one point. The dollar fell in late trading after the US House of Representatives voted against the bail-out plan.
Mark Deans, dealing manager at Moneycorp, said: "Confidence in UK banking has fallen to a new low with the nationalisation of Bradford & Bingley. This has prompted a major sterling sell-off and, coupled with growing confidence that the US government's Wall Street bail-out may be agreed, it has resulted in the pound's heavy fall against the dollar."
Analysts said confidence in the pound was shaken because there was still little sign that the Bank of England intended cutting interest rates to shore up an increasingly fragile economy.
Interbank lending markets across the world were plunged into further turmoil after the weekend collapse of Bradford & Bingley and Belgium's Fortis, which meant other banks remained reluctant to lend to one another. The Bank of England made an injection of £40bn of three-month funding. But that was later trumped by the US Federal Reserve which, in conjunction with the BoE and other central banks, increased its reciprocal dollar fund swap arrangements to $620bn (£344bn) - more than double the previous amount.
