Fed Pumps Billions into Financial System
Thursday, August 16, 2007 - FreeMarketNews.com
The Federal Reserve pumped $2 billion into the U.S. financial system Monday just after the stock market began trading, according to Raw Story. The Fed put $24 billion into the market Thursday and $38 billion Friday, the largest operation since the week of the Sept. 11, 2001 terrorist attacks. The central bank made these moves to ease tightening credit linked to the crisis in the U.S. subprime mortgage sector.U.S. comptroller general David Walker, who also heads the Government Accountability Office, issued a report in which he compared the modern United States to the Roman Empire at the time of its collapse, according to a separate Raw Story report. He pointed to parallels such as the over-extended military and fiscal irresponsibility by the central government. Staff Reports - Free-Market News Network
The Federal Reserve pumped $2 billion into the U.S. financial system Monday just after the stock market began trading, according to Raw Story. The Fed put $24 billion into the market Thursday and $38 billion Friday, the largest operation since the week of the Sept. 11, 2001 terrorist attacks. The central bank made these moves to ease tightening credit linked to the crisis in the U.S. subprime mortgage sector.U.S. comptroller general David Walker, who also heads the Government Accountability Office, issued a report in which he compared the modern United States to the Roman Empire at the time of its collapse, according to a separate Raw Story report. He pointed to parallels such as the over-extended military and fiscal irresponsibility by the central government. Staff Reports - Free-Market News Network
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