One of the biggest one-day rallies in history resulted from investors betting on a US$500 billion plan to fix the credit crunch, buying toxic bank assets to free up credit markets.
CNN reports that this week alone, investors had withdrawn $210bn from money market funds. This was precipitated by the news of soured investments from Reserve Management Co. due to investments in Lehman Bros.
"What they're doing is jumping from crisis to crisis," said Senator Shelby, on the Federal Reserve and Treasury.
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