The Masked Tulip Posted March 28, 2008 Share Posted March 28, 2008 http://news.bbc.co.uk/1/hi/business/7319413.stm Quote Link to comment Share on other sites More sharing options...
BoomBoom Posted March 28, 2008 Share Posted March 28, 2008 Bye bye, Dollar. Quote Link to comment Share on other sites More sharing options...
Sofa Spud Posted March 28, 2008 Share Posted March 28, 2008 This isn't on Bloomberg, CNN, Reuters or Fox websites yet. Where did the Beeb get it from? Quote Link to comment Share on other sites More sharing options...
newbie Posted March 28, 2008 Share Posted March 28, 2008 When are they going to extend their auctions to allow the man in the street to participate? Why not allow J Public to pledge his written in crayon IOUs as collateral? Quote Link to comment Share on other sites More sharing options...
THE BALD MAN Posted March 28, 2008 Share Posted March 28, 2008 http://news.bbc.co.uk/1/hi/business/7319413.stm What ever teh FEd does it seems to have no effect. This means the crisis is really bad. Any one holdong dollar assets will be looking to unload asap as they will end up trashing the currency completely Quote Link to comment Share on other sites More sharing options...
newbie Posted March 28, 2008 Share Posted March 28, 2008 This isn't on Bloomberg, CNN, Reuters or Fox websites yet. Where did the Beeb get it from? Robert Preston Quote Link to comment Share on other sites More sharing options...
Sofa Spud Posted March 28, 2008 Share Posted March 28, 2008 I tell a lie! It is on Fox financial page as a small item on a list. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted March 28, 2008 Author Share Posted March 28, 2008 Odd, no one else is reporting it yet. Quote Link to comment Share on other sites More sharing options...
Pindar Posted March 28, 2008 Share Posted March 28, 2008 When are they going to extend their auctions to allow the man in the street to participate? Why not allow J Public to pledge his written in crayon IOUs as collateral? It's because the average man in the street isn't dishonest, greedy and corrupt enough. It takes a special kind of crook to make loans to people with money that has literally been printed out of thin air. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted March 28, 2008 Share Posted March 28, 2008 As I said in another thread, this is a huge change in that investment banks can now apply. These means any bank that lent on a dodgy business deal can get help. Quote Link to comment Share on other sites More sharing options...
gfromls Posted March 28, 2008 Share Posted March 28, 2008 This isn't on Bloomberg, CNN, Reuters or Fox websites yet. Where did the Beeb get it from? Good point, I just saw this on news 24 the reporter said it had happened in the last hour. News like this would normally be trumpeted with great fanfare by the likes of cnbc. Also, when the FED normally makes these announcements it’s usually around 9am their time, or early afternoon for us. The DOW usually shoots up on the news, but today it’s just moving steadily down. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted March 28, 2008 Share Posted March 28, 2008 It's because the average man in the street isn't dishonest, greedy and corrupt enough. It takes a special kind of crook to make loans to people with money that has literally been printed out of thin air. and so what if a few hundred thousand UK denizens go bust. WHO will that hurt. Collapse a bank or two and the Guvment gets it. Quote Link to comment Share on other sites More sharing options...
yellerkat Posted March 28, 2008 Share Posted March 28, 2008 This isn't on Bloomberg, CNN, Reuters or Fox websites yet. Where did the Beeb get it from? It's because $100Bn is now a trifle...a mere bagatelle. Quote Link to comment Share on other sites More sharing options...
Alistair darlings mole Posted March 28, 2008 Share Posted March 28, 2008 Let's say- Banks get cash for 3%, Then we borrow at 8% Quote Link to comment Share on other sites More sharing options...
newbie Posted March 28, 2008 Share Posted March 28, 2008 Let's say- Banks get cash for 3%, Then we borrow at 8% And we pay it off with our after-tax funds. And where will the taxes go? To bail-out the banks. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted March 28, 2008 Share Posted March 28, 2008 Let's say- Banks get cash for 3%, Then we borrow at 8% Its still only 3 month money- so they gotta hope that they can roll it over again at such favourable rates at renewal. With Libor Over 6% 8% sounds cheap for a loan. In any case, they need the money to shore up balance sheets, not for loaning. Quote Link to comment Share on other sites More sharing options...
Sofa Spud Posted March 28, 2008 Share Posted March 28, 2008 No effect on the Dow - just a continued gentle slide down since. Quote Link to comment Share on other sites More sharing options...
Errol Posted March 28, 2008 Share Posted March 28, 2008 I've emailed the Federal Reserve to claim a couple of billion. My requirements are quite modest but I feel that I have a good case. Quote Link to comment Share on other sites More sharing options...
Optobear Posted March 28, 2008 Share Posted March 28, 2008 Let's say- Banks get cash for 3%, Then we borrow at 8% No, this isn't about borrowing low and lending high. This is about the whole banking system being holed below the waterline. Just to put in context, $100bn = £50bn = 18 months of spending by the UK on defence, the whole lot, army, navy, airforce. Or the tax take for business rates and council tax combined for the UK for one year. This is intervention on a huge scale. Why is it being done? Because the previous extreme measures haven't worked, why not? Because the mess is $1.2Trillion and that removes $10Tr from the credit market, and that equals twice the whole value of the UK housing stock. Quote Link to comment Share on other sites More sharing options...
Woodworm Posted March 28, 2008 Share Posted March 28, 2008 Wow, the Fed is getting really deep into this money laundering business. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted March 28, 2008 Author Share Posted March 28, 2008 The Dow does not seem to like it... or even care.. the Dow is down. A few weeks ago a 100 billion bucks was big news. Now it is a byline on a website. Quote Link to comment Share on other sites More sharing options...
Alistair darlings mole Posted March 28, 2008 Share Posted March 28, 2008 (edited) Sorry too much drinkies Edited March 28, 2008 by Alistair darlings mole Quote Link to comment Share on other sites More sharing options...
planit Posted March 28, 2008 Share Posted March 28, 2008 Reported todayTelephone company WorldCom Inc. filed the largest-ever U.S. bankruptcy. You are Alisair Darling to come up with a post that wrong. This must be the article it came from U.S. Stocks Drop, Led by Banks, Retailers; Citigroup Tumbles Quote Link to comment Share on other sites More sharing options...
Fishfinger Posted March 28, 2008 Share Posted March 28, 2008 I've emailed the Federal Reserve to claim a couple of billion. My requirements are quite modest but I feel that I have a good case. They'll turn you down as you'll go and blow it on something stupid like ...Gold Quote Link to comment Share on other sites More sharing options...
Alistair darlings mole Posted March 28, 2008 Share Posted March 28, 2008 They'll turn you down as you'll go and blow it on something stupid like ...Gold Quote Link to comment Share on other sites More sharing options...
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