Politics
Out of context: Reply #1285
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- TheBlueOne0
Isn't this a Bush executive branch end around?
"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.
The Fed’s expansion of liquidity, the biggest since credit markets seized up last year, came hours before the U.S. House of Representatives rejected a $700 billion bailout for the financial industry. "
- So Bush just came up with $630 billion on his own? They're just printing it...we're fucked...TheBlueOne
- Yep, printing money is going to lead to massive inflation.MrOneHundred
- the fed can do whatever it wants. it answers to no one.johndiggity