Articles Tagged “debt”

  • Pulling Back the Curtain on the Wall Street Money Machine

    by FCJ Editor on Dec 07, 2011 | 1 Comment

    The Fed, it seems, was doing only what banks and the money market do for each other every day: making “liquidity” available at very low interest rates. In 2008, bank liquidity dried up after Lehman Brothers collapsed, and the banks could not get the cheap, ready credit on which their lending scheme depends. The Fed then stepped in as “lender of last resort,” doing what it had to do to keep the banking scheme going.

    Posted in Opinion