Fed and European Central Banks Make Historic Moves

Posted by Patrick O'Connor on 10/13/08 11:29 am

U.S. and European governments took unprecedented action during the weekend by pumping trillions of dollars into the global banking system.  As a result, stocks soared around the world.

U.S. Treasury aims to help healthier banks

European governments pledge nearly $2 trillion

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Unlimited dollars to be auctioned by European banks

LIBOR rates come down

Asia might not benefit from European and U.S. liquidity injections

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