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WEDNESDAY OCTOBER 15
Making The Most Of The Credit Crunch Everyone has a different idea for making this the best global credit crunch ever. The U.S. is expanding the powers of the Federal Deposit Insurance Corporation and U.K. banks are clamoring for the reinstatement of dividends as U.K. Prime Minister Gordon Brown calls for a flashy, splashy “early warning” system of multicoloured lights (exaggerating only slightly, here) to alert us the next time a crisis is about to strike. The Bank of Japan is offering unlimited money to banks (not traders, unfortunately), the Reserve Bank of India is launching a 14-day repo auction to boost liquidity, Hong Kong is guaranteeing all bank deposits until the end of 2010, Indonesia is cutting banks’ forex reserve requirements and even Pakistan is getting in on the act. Of course, with all this effort being expended, the markets must still be on the rebound. Right? Well...It’s like this... October 2008New User?Sign up to get free access to TraderDaily.com
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