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Daily Archives: September 30, 2008

Putin Promises $50 Billion For Banks

The government will provide a further $50 billion to increase liquidity in the banking system and fight the “contagion” that has spread from the United States, Prime Minister Vladimir Putin said Monday. The money will be made available to banks and companies to help them pay foreign loans taken out before Sept. 25 and will…

Fed Pumps Further $630 Billion Into Financial System

Sept. 29 (Bloomberg) — The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis since the Great Depression. The Fed increased its existing currency swaps with foreign central banks by $330 billion to $620 billion to make more dollars available worldwide….

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