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Fed offers 180B to flood markets

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FinalCountdown
User ID: 501835
9/18/2008 7:53 AM
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Fed offers 180B to flood markets

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The US Federal Reserve announced a 180-billion-dollar cash line to fight the racing fires of global financial crisis Thursday, as leading central banks said they would join in.
The Federal Reserve said it was expanding its temporary arrangements for banks to obtain dollars by 180 billion "to provide dollar funding for both term and overnight liquidity operations by other central banks."

The move was to fight "continued elevated pressures in US dollar short-term funding markets," the Federal Reserve said.

The Fed's statement concerned "reciprocal arrangements", which several central banks had authorised to run up to January 30, 2009, or for another four and a half months.

Central banks have intervened massively with direct cash injections since financial disaster struck Wall Street at the weekend.

The Fed said those actions, and the latest more technical measures to relieve tension on the dollar money market, "are designed to improve the liquidity conditions in global financial markets."

The Fed acted minutes after the Bank of England announced that leading central banks around the world would make a concerted onslaught through intervention in money markets.

These extraordinary statements came after wild falls on stock markets and US Treasury bond yields, a surge in the price of gold, reports that investment bank Morgan Stanley is looking for help after the collapse of Lehman Brothers, and uncertainty after the nationalisation of AIG insurance.

The Fed said in a statement that it had "authorized increases in the existing swap lines with the ECB and the Swiss National Bank."

It said the Japanese, British and Canadian central banks had also increased their arrangements giving access to dollars through so-called "swap" arrangements

It gave the amounts as 60 billion dollars for the Japanese bank, 40 billion dollars by the Bank of England and 10 billion dollars by the Canadian bank.

The Fed said its own latest massive liquidity window for the banking system would back up such support of 110 billion dollars by the European Central Bank, marking an increase in its facility of 55 billion dollars, and 27 billion dollars by the Swiss bank, an increase of 15 billion dollars.

...am.i.vishuz?... (= Subscriber

Ganja smoker :]
User ID: 432360
9/18/2008 7:55 AM

Re: Fed offers 180B to flood markets	Quote
Small bump. S&P 500 +14.60 1177.50 9/18 7:36am Fair Value 1158.31 9/17 10:38pm Difference* +19.19 NASDAQ +20.00 1667.00 9/18 7:36am Fair Value 1642.65 9/17 10:38pm Difference* +24.35 Dow Jones +104.00 10768.00 9/18 7:36am [link to myspace.com]

FinalCountdown
User ID: 501835
9/18/2008 7:57 AM

Re: Fed offers 180B to flood markets	Quote
We'll have a bit of a rally today don't ya think?

...am.i.vishuz?... (= Subscriber

Ganja smoker :]
User ID: 432360
9/18/2008 8:00 AM

Re: Fed offers 180B to flood markets	Quote
Won't match the amount lost thus far though. They need to pump in 6-8 times that amount, lol. [link to myspace.com]

Anonymous Coward
User ID: 485829
9/18/2008 8:12 AM

Re: Fed offers 180B to flood markets	Quote
QUICK! Somebody pour some gasoline on that fire!!!

Anonymous Coward
User ID: 69144
9/18/2008 8:15 AM

Re: Fed offers 180B to flood markets	Quote
WTF....This just shows you how much money the fed can just keep on creating. It's an illusion. I hope the markets crash as they see this as a desperate attempt.

Anonymous Coward
User ID: 503790
9/18/2008 8:16 AM

Re: Fed offers 180B to flood markets	Quote
WTF....This just shows you how much money the fed can just keep on creating. It's an illusion. I hope the markets crash as they see this as a desperate attempt. Quoting: Anonymous Coward 69144 Oh it is real and it will cause massive inflation.

Anonymous Coward
User ID: 428255
9/18/2008 8:26 AM

Re: Fed offers 180B to flood markets	Quote
WTF....This just shows you how much money the fed can just keep on creating. It's an illusion. I hope the markets crash as they see this as a desperate attempt. Oh it is real and it will cause massive inflation. Quoting: Anonymous Coward 503790 So either DOW crashes, either the economy, but finally it will be both anyway. Not a bad doom

Anonymous Coward
User ID: 503790
9/18/2008 8:27 AM

Re: Fed offers 180B to flood markets	Quote
World wide in the last 12 hours central banks have injected $247B.

Enjoying Beauty in the World Subscriber

User ID: 500463
9/18/2008 8:27 AM

Re: Fed offers 180B to flood markets	Quote
Today is the day to sell all stocks, bonds, etc. Sell them while they are artificially inflated. Buy physical goods with your money while it's temporarily worth more than a loaf of bread.

Anonymous Coward
User ID: 503790
9/18/2008 8:28 AM

Re: Fed offers 180B to flood markets	Quote
The TED spread is at 302, higher than the 1987 crash.

Rxmundi
User ID: 206565
9/18/2008 8:32 AM

Re: Fed offers 180B to flood markets	Quote
Someone is letting air out of the bubble again... Start your pumps. -Peeling tape from a roll of Scotch releases tiny bursts of X-rays that are powerful enough to take images of bones in fingers and hands. -

Anonymous Coward
User ID: 503790
9/18/2008 8:33 AM

Re: Fed offers 180B to flood markets	Quote
Someone is letting air out of the bubble again... Start your pumps. Quoting: Rxmundi SEC is going to ban short selling including options at noon.

Anonymous Coward
User ID: 503790
9/18/2008 8:35 AM

Re: Fed offers 180B to flood markets

Quote

Washington, D.C., Sept. 17, 2008 — The Securities and Exchange Commission today took several coordinated actions to strengthen investor protections against "naked" short selling. The Commission's actions will apply to the securities of all public companies, including all companies in the financial sector. The actions are effective at 12:01 a.m. ET on Thursday, Sept. 18, 2008.

New short selling rules: [link to www.sec.gov]

PDF doc.

Anonymous Coward
User ID: 503790
9/18/2008 8:38 AM

Re: Fed offers 180B to flood markets	Quote
I justed noticed this was changed from last night (8pm) 12:01 a.m. ET on Thursday, Sept. 18 It was 1200PM ET yesterday. It has all ready taken into effect. So the Fed injected $180B to further cream the shorts and cause a rally.

Anonymous Coward
User ID: 486875
9/18/2008 8:41 AM

Re: Fed offers 180B to flood markets	Quote
this is the immediate result of the AIG takeover: now public mone ha to cover the AIG role in investment banking, but it's an impossible task: there is no more money, and the money there already is, doesn't relate to economic value, so there's already too MUCH money in the market, adding more will just create a bigger disaster...

Anonymous Coward
User ID: 503790
9/18/2008 8:42 AM

Re: Fed offers 180B to flood markets	Quote
TED 308-new record

FinalCountdown
User ID: 501835
9/18/2008 8:42 AM

Re: Fed offers 180B to flood markets

Quote

this is the immediate result of the AIG takeover: now public mone ha to cover the AIG role in investment banking, but it's an impossible task: there is no more money, and the money there already is, doesn't relate to economic value, so there's already too MUCH money in the market, adding more will just create a bigger disaster...

Quoting: Anonymous Coward 486875

Yep, we may rally today but don't think the crisis is over by any means....I think we're in for a long ride.....

Anonymous Coward
User ID: 362124
9/18/2008 8:57 AM

Re: Fed offers 180B to flood markets	Quote
Someone is letting air out of the bubble again... Start your pumps. SEC is going to ban short selling including options at noon. Quoting: Anonymous Coward 503790 Never understood why someone would want to trade stocks in the nude.

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