"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)
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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
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