DJIA 0.31% 26,683 dow jones industrials

the federal reserve rescue has failed

  1. 4,699 Posts.
    "There probably will be some bank failures," said Ben Bernanke. He knows perfectly well that the US price spike is a bogus scare, the tail-end of a food and fuel shock.

    "The extent of de-leveraging involves a wholesale destruction of credit. The risk is that the 'shadow banking system' completely collapses," he said.

    For the first time since this Greek tragedy began, I am now really frightened.


    http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/03/ccview103.xml&page=1

    http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/03/ccview103.xml&page=2
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.