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Fed ‘Pump’ turns into ‘Dump’


Posted by Non-Hamster on August 11th, 2007

As I expected.  The Federal Reserve's move to pump large amounts of money into the economy has failed to have a lasting effect.  That's because they're just trying to put a band aid on the thing instead of trying to do something to actually fix it.  I am not a hamster, not only is an ounce of prevention worth a pound of cure but when something's bleeding you need to close the wound before a bandage of any kind will be useful.

Translation: Fix the mortgage problem that started this whole mess and then maybe the market can be fixed.

STOCKS SLIDE BACK DESPITE FED MOVES

Losses continued on Wall Street, as stocks fell back even after the Federal Reserve
said it would for the third time inject liquidity into the U.S. banking system.

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