Bernanke ready to extend aid for banks into 2009


	Bernanke ready to extend aid for banks into 2009

JICWyllie

7-9-2008 12:05 PM

88 views

tags:

economy, financial markets, i-policy, i-liquidity, i-increase

JICWyllie says:

Can the Federal Reserve go bankrupt? How much gold can Fort Knox hold. Surely it can't cover all this debt? What other assets does it have? The US taxpayers who is also in excess debt and might find it impossible to pay their taxes.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/f5bdad5d-12b8-43f7-a2e6-72bb66d47c8d/D48AADDC-7C5B-487A-ACEE-AD60A7D14C3D/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.independent.co.uk/news/business/news/bernanke-ready-to-extend-aid-for-banks-into-2009-863043.html" href="http://www.independent.co.uk/news/business/news/bernanke-ready-to-extend-aid-for-banks-into-2009-863043.html" style="font-size: 11px;">www.independent.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.independent.co.uk/news/business/news/bernanke-ready-to-extend-aid-for-banks-into-2009-863043.html">American regulators may have to continue offering emergency funding to investment banks into 2009,</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.independent.co.uk/news/business/news/bernanke-ready-to-extend-aid-for-banks-into-2009-863043.html">That would mean leading investment banks could continue to borrow from Fed facilities that offer hundreds of billions of dollars at reduced rates of interest if they find themselves constrained by liquidity problems. </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.independent.co.uk/news/business/news/bernanke-ready-to-extend-aid-for-banks-into-2009-863043.html"> interbank interest rates remain significantly higher than US base rates, indicating that the credit squeeze is continuing.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.independent.co.uk/news/business/news/bernanke-ready-to-extend-aid-for-banks-into-2009-863043.html">Mr Bernanke's offer will be welcomed by Wall Street, but it reflects the limited impact regulators have had so far in dealing with the credit crisis since it began to bite a year ago.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.independent.co.uk/news/business/news/bernanke-ready-to-extend-aid-for-banks-into-2009-863043.html">"Money has become dear despite their efforts. The problems seem to be elevated and are actually creeping higher."</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.independent.co.uk/news/business/news/bernanke-ready-to-extend-aid-for-banks-into-2009-863043.html">A series of interest rate cuts have also had little effect on the cost of borrowing in the wholesale money markets</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.independent.co.uk/news/business/news/bernanke-ready-to-extend-aid-for-banks-into-2009-863043.html">Mr Bernanke's comments boosted the US stock market, with the Dow Jones closing up 152.3, or nearly 1.4 per cent, at 11,384.21.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/D48AADDC-7C5B-487A-ACEE-AD60A7D14C3D/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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