US TREASURY'S PAULSON: FED MAY NEED TO OFFER LIQUIDITY TO A BROADER RANGE OF FINANCIAL FIRMS IN THE FUTURE
- If liquidity is offered to a broader range of firms, must ensure that it is limited in scope and focused on systemic risk.
- Must ensure that any new regulatory authority does not undermine market discipline.
- Working closely with the Fed and SEC to develop procedures for granting access to emergency lending.
- High crude prices may extend the economic slowdown, market recovery will take some time.
Don't worry. It's all 'contained'...
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"Corporations have been enthroned, and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until the wealth is aggregated in the hands of a few, and the Republic is destroyed." -- Abraham Lincoln "America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves." - Abraham Lincoln -
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