Central Bankers to Lend Billions in Credit Crisis

[Butterflykisses]

A day after the Federal Reserve disappointed investors with a modest cut in interest rates, central banks in North America and Europe on Wednesday announced the most aggressive infusion of capital into the banking system since the terrorist attacks of September 2001.

Most market specialists and economists welcomed the effort but concluded that it would probably have only limited success in addressing broader problems in the global economy and the credit markets.

In response, stocks initially surged in New York, but most of the early gains dissipated in afternoon trading as the market moved wildly up and down through the day.

http://www.nytimes.com/2007/12/13/business/13fed.html?_r=2&hp=&adxnnl=1&oref=slogin&pagewanted=print&adxnnlx=1197558768-zhc3anO4g6HzbCgWYWfMyA

[HisAlways]

I will never deal with a bank again, if I can help it.

Credit unions have been a wonderful transition for me.

[light4mypath]

Credit unions have been a wonderful transition for me.

:nod

[Judah]

The world is headed for an economic collapse. Fiat currencies and debt have made it easy. If you understand derivatives you'll understand why it is all inter-connected.

James 5:

1Come now, you rich, weep and howl for your miseries which are coming upon you. 2Your riches have rotted and your garments have become moth-eaten. 3Your gold and your silver have rusted; and their rust will be a witness against you and will consume your flesh like fire. It is in the last days that you have stored up your treasure! 4Behold, the pay of the laborers who mowed your fields, and which has been withheld by you, cries out against you; and the outcry of those who did the harvesting has reached the ears of the Lord of Sabaoth. 5You have lived luxuriously on the earth and led a life of wanton pleasure; you have fattened your hearts in a day of slaughter. 6You have condemned and put to death the righteous man; he does not resist you.
7Therefore be patient, brethren, until the coming of the Lord. The farmer waits for the precious produce of the soil, being patient about it, until it gets the early and late rains. 8You too be patient; strengthen your hearts, for the coming of the Lord is near.

[light4mypath]

:agree