Thursday, December 27, 2007

oooh, this has been quietly sneeked out while everyone’s pissed on Egg Nog!

US asset rescue scheme abandoned

A plan by US banks to help calm down rattled credit markets has been dropped weeks before it was due to launch. Citigroup, Bank of America and JPMorgan Chase said they had shelved the $75bn (£37bn) fund designed to buy debt of weakening value to avoid panic selling.

Posted by tyrellcorporation @ 09:01 AM (924 views)
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5 thoughts on “oooh, this has been quietly sneeked out while everyone’s pissed on Egg Nog!

  • ….presumably having realised that there is no way to stop this thing, and the bottom will most probably be far lower than anyone could have imagined.

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  • Let everything take its natural course…..

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  • Pheeeew ! What a relief that is. Every thing’s going to all be right. :o)

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  • At long last…..some sense, finally

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  • I read of this on several financial sites a few days ago – I suspect it was abandoned simply because they cant actually raise the cash !

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