Friday, May 2, 2008

Bailout # 3

The US Federal Reserve, the European Central Bank and the Swiss central bank announced today a third bailout of US and European financial institutions. The amount of credit the US bank is offering -- an additional $50 billion on top of the $100 billion already extended. Interestingly, the Bank of Canada and the central bank in the UK is not participating in this credit swap round although it put up quite a bit in the previous coordinated emergency loans.

Hey, dudes, what about ordinary people? They need a bailout too especially with gas hitting $4 a gallon and diesel even more than that!

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