Relevant:
- US subprime crisis costs global 7.7 trillion dollars: bank
- Fed's Lacker Defends Reaction To Market Troubles
- For the second day in a row, the New York Fed injected billions of dollars into the market
- Financial Times: Things Likely to Get Worse Before They Get Better
- New Zealand Announces New Liquidity Measures
2007-08-24 — atimes.com
"After months of adamant official denial of any potential threat of the subprime mortgage meltdown spreading to the global financial system, the US Federal Reserve (Fed) last Friday, a mere 10 days after declaring market fundamentals as strong and inflation as its main concern, took radical steps to try to halt financial market contagion worldwide that had become undeniable. "
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