Whack A Mole … Turmoil In The Financial Markets
The Turmoil: I’ve been up all night … glued to CNBC World. It’s a sea of red out there in the financial markets. Overnight overseas markets fell on reaction to news that the Fed had lowered the discount rate and changed lending practices to primary dealers. Primary dealers make market in US Debt and MUST meet certain liquidity requirements. Here’s a list of primary dealers in the US. Obviously the Fed is a whole lot more worried about the financial crisis than it had let on. Overnight the Fed cut the discount rate another 1/4 point and there’s a talk of more moves before the week is out. Understandable.
The website's content and articles were migrated to a new framework in October 2023. You may see [shortcodes in brackets] that do not make any sense. Please ignore that stuff. We may fix it at some point, but we do not have the time now.
You'll also note comments migrated over may have misplaced question marks and missing spaces. All comments were migrated, but trackbacks may not show.
The site is not broken.