You know, one of those really thick, syrupy, brownish antibiotic infusions that takes 25 seconds to pull into the syringe.
The Fed and the European Central Bank doubled to $240 billion the amount of dollars being made available to banks hungry for cash. In an announcement Monday by the ECB -- the central bank to the 15-nation euro zone -- said it and the Fed decided to double their temporary reciprocal currency arrangements, or swap lines, from $120 billion to $240 billion.
Europe has managed to fail to avoid the financial failure of the United States. All those smug, French-accented cat calls from last month are sounding a bit premature now. So is the premature Chinese investment in Fortis. Don't fret, China. We screwed Japan but good back in the '80s with real-estate.
Central Banks Inject More Cash As Money Markets Remain Frozen [Wall Street Journal]