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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: LindyBill who wrote (241548)	3/11/2008 9:10:38 PM
From: carranza2	Read Replies (1) \| Respond to of 794033

The Fed's move had as its purpose saving the banks and financial entities that gave us subprime. Ironic, huh? It is not a credit crisis at all. Banks are not lending because they are hoarding their cash for the next crisis, a derivatives one which will be the mother of all financial crises. Credit is frozen and will remain frozen until such time as that crisis, which is a solvency crisis, is somehow past us. This is a very good description of what the economy faces: ft.com