A quick update on the supposed ‘bailout’ of foreign banks via AIG. The problem with using the word ‘bailout’ here is that it is not fully accurate, even though it loosely describes what went on. I would prefer we reserve the word for situations where taxpayer money is used to prevent an organization from filing […]

At today’s Federal Reserve Open Market’s Committee [‘FOMC’] meeting the Federal Reserve Board announced some major policy moves designed to ease credit markets further. Here’s the official press release: FRB: Press Release–FOMC statement–March 18, 2009 What the FOMC has decided to do is to expand the Fed’s own balance sheet by a further $1.5 trillion […]