95 billion euros and a 100-percent guarantee to accept any funding request from a financial institution? It’s like Jean-Claude Trichet (head of the European Central Bank) is playing Santa Claus for the financial markets, and the Christmas spirit is spreading.After BNP Paribas (a French banking institution) announced it was closing withdrawals from a few of its hedge funds that were invested in sub-prime-backed securities, banks around the globe began raising the rates at which [...]
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[Source: The Money Blogs]
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