Friday, March 14, 2008

FED to Supply Cash

"The Federal Reserve said Friday that it has voted to endorse an arrangement to bolster troubled Bear Stearns Cos. and stands ready to provide extra resources to combat a serious credit crisis."

http://biz.yahoo.com/ap/080314/fed_credit_crisis.html?.v=20

We are living in interesting times.

- Dan (in BA)

1 comment:

Allan said...

Wow. A bank bailout for such a large and trusted firm. I'd been hearing rumor of Bear Stearns having trouble, but a fed bailout? Ouch. I came across a Ron Paul article today that basically said - the longer we delay fixing our broken monetary policy, the worse that process will be.
Good travels to you, Dan.
- Allan in Blue Island