The Fed did nothing on interest rates yesterday and their statement was unrevealing and perhaps was meant to demonstrate that theyre cool. However, they caught bears flat-footed with a subsequent report/rumor of an AIG bridge loan "to nowhere" [see late-breaking news below]. The Fed has also injected $140 billion in the past 24 hours. I dont know if that includes $87 billion to JPMorgan who are being reimbursed for an advance to Le[...]
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[Source: The Money Blogs]
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