Thursday, October 9, 2008

but USA & UK gave you 1500billion where did it go? on a party?

Libor Dollar Rate Jumps to Highest in Year; Credit Stays Frozen

The cost of borrowing in dollars for three months in London soared to the highest level this year as coordinated interest-rate reductions worldwide failed to revive lending among banks for any longer than a day.

Posted by mark @ 02:27 PM (845 views)
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7 thoughts on “but USA & UK gave you 1500billion where did it go? on a party?

  • Er hang on a minute George W B told everyone it would take around 45 day’s to get the money into the market – the fact it was needed in 45 seconds and that $700bn is insufficient is another matter.

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  • “Libor is broken and the transmission mechanism from central banks isn’t working”

    Aaah I see… thats what the problem is! I can’t believe nobody checked to see if the Libor was broken.
    Gawd, and I’ll this time we thought it had just run out of fuel! Duh!

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  • planning4acrash says:

    LIBOR is a fake market in banks borrowing £ 2 maintain fractional reserves. So, unmanipulated LIBOR is better than fake central bank rate setting, but both feed off each other, because commercial banks ALWAYs run out of reserves, needing central bank £’s.

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  • Landedgentry says:

    Status Report: Captain Brown / Admiral Bush, we have fired our Primary and Secondary weapons, but the hostile alien force just keeps getting bigger!

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  • S’pose we’re forced to throw more printed money at it or let the whole lot junk itself. Now which way d’yo think we’ll go …………….. ?

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  • mountain goat says:

    Lehman Brothers bankruptcy CDS get settled tomorrow. From a post earlier this week “Banks are hoarding cash in expectation of pay-outs on up to $400bn of defaulted credit derivatives linked to Lehman Brothers and other institutions, according to analysts and dealers.”

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  • stillthinking says:

    The bailout doesn’t cover the losses, so it didn’t work. If I sold my car to some fool for 100K, and his so called mate turned up to guarantee fifty quid, my best option would still be to bumrush his house and grab the tv, cutlery etc

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