Federal Reserve announces 180 billion dollar cash flood to fight crisis

AFP
September 18, 2008

The US Federal Reserve announced a 180 billion-dollar liquidity line to fight the racing fires of global financial crisis Thursday and said it was ready to do more.

The move came in coordination with other leading central banks to pump cash into the financial system amid a credit squeeze that has dried up lending among commercial banks.

The Federal Reserve of New York said in a statement it “shortly” would arrange a special overnight repo operation, a 24-hour credit to banks needing cash.

The New York Fed said it “stands ready to arrange further operations later in the day, as needed.”

The special repo operation will be immediately followed by the regular Thursday morning 14-day repo operation, for five billion dollars, it said.

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4 Responses to “Federal Reserve announces 180 billion dollar cash flood to fight crisis”

1. dean of missouri Says:
   September 18th, 2008 at 11:28 pm

   I’ve sat here and tried to type my thoughts for 20 min. I am so angry, I can’t

2. biscuithead Says:
   September 19th, 2008 at 12:25 am

   people are so retarded. i mean i really can’t describe the feeling of being laughed at as a maniac when i try to explain the situation. it just blows my mind

3. kushonly Says:
   September 19th, 2008 at 12:48 am

   How much intrest are they charging on this money?

4. hoker Says:
   September 19th, 2008 at 5:22 pm

   Monopoly play money. Tell that worthless piece of Shit Shiffty Paulsen to send a million dollar check to every American.