From the NYT: As expected, the Fed kept its benchmark interest rate at virtually zero. But in a surprise, it dramatically increased the amount of money it will create out of thin air to thaw out the still-frozen credit markets that have cramped lending to consumers and businesses alike.Despite a trickle of encouraging economic data [...]
Archive for March 18th, 2009
Surprise Move
Posted in China, Meltdown on March 18, 2009 | 3 Comments »
Subtle Flaw
Posted in Meltdown on March 18, 2009 | Leave a Comment »
Treasury’s current position on the AIG bonuses: “We will impose on AIG a contractual commitment to pay the treasury from the operations of the company the amount of the retention awards just paid,” Geithner wrote. “In addition, we will deduct from the $30 billion in assistance an amount equal to the amount of those payments.” [...]
