Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: MythMan who wrote (364481)	4/3/2008 6:40:42 PM
From: Real Man	Read Replies (1) of 436258

Very BOOLISH. <g> bloggingstocks.com The Fed also showed how close to a global financial meltdown we came. The testimony detailed the reasoning behind the Fed's action to prevent the bankruptcy of Bear Stearns and facilitate its sale. It made clear that because of the interconnectivity of the world financial community, a bankruptcy could have resulted in a meltdown on a global basis, not merely one in U.S. markets. The Chairman made it very clear that the Fed will use all the tools at its disposal to deal with these situations as they arise. However, Dr. Bernanke implied that this is now a global problem, which cannot be solved by the Fed alone.

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