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New Banks intervene to prop up credit markets
[link|http://money.cnn.com/2007/08/10/news/international/bc.centralbanks.reut/index.htm|CNN]
The European Central Bank mounted a second day of action to calm panicky credit markets Friday, after Asia central banks joined a global campaign by monetary authorities to inject extra cash into banking systems.

The ECB said it would add \ufffd61.05 billion ($83.61 billion) in a 3-day tender through the weekend to calm markets, saying it "aims to assure orderly conditions in the euro money market." The Swiss central bank also offered money at below-market rates.

Stock market declines have worked their way around the globe overnight, causing a second day of declines in Europe now.

Europe's central bank have made a huge injection of money to try and offset credit problems caused by the mortgage collapse in the US.

Jay
New Yeah, and the only stock I have going up . . .
. . this morning is the only one that's got a foot in the subprime mortgage business.
[link|http://www.aaxnet.com|AAx]
     Dow and global markets plunge - (JayMehaffey) - (9)
         Banks intervene to prop up credit markets - (JayMehaffey) - (1)
             Yeah, and the only stock I have going up . . . - (Andrew Grygus)
         Feds intervene in US market as US market continues drop - (JayMehaffey) - (4)
             the feds need to leave it alone - (boxley) - (2)
                 Very true - (JayMehaffey) - (1)
                     Some "circuit breakers" that kick in if things fall too much - (Another Scott)
             thank you oh fed, for the inflation we are about to receive -NT - (boxley)
         Second order effects begin to roll in - (JayMehaffey) - (1)
             there is a reason chavez is trying to lock in $50 long term - (boxley)

That sounds like a venereal disease.
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