Saturday, September 17, 2011

Geithner pumps up Zombie Banks on a global level



Timothy Maxwell "Max" Keiser (born January 23, 1960) is an American broadcaster, film-maker, and former equities broker. Keiser is the host of On the Edge, a program of news and analysis hosted by Iran's Press TV. He also hosts Keiser Report, a financial program broadcast on RT - formerly Russia Today. Keiser hosted the New Year's Eve special, The Keiser's Business Guide to 2010 for BBC Radio 5 Live.

Keiser formerly hosted The Oracle with Max Keiser on BBC World News. Previously he produced and appeared regularly in the TV series People & Power on the Al-Jazeera English network. He also presents a weekly show about finance and markets on London's Resonance FM, as well as writing for The Huffington Post.

source Wikipedia

 
Geithner’s European Junket

counterpunch September 17-18, 2011

by MIKE WHITNEY September

On Thursday–exactly 3 years after Lehman Brothers defaulted igniting the greatest financial crisis in 70 years–the world’s most powerful central banks launched a massive intervention to staunch a liquidity squeeze in the eurozone that threatened to wreak havoc on the EU banking system. The European Central Bank –acting in cooperation with the Federal Reserve, the Bank of England, the Bank of Japan and the Swiss National Bank–agreed to provide limitless loans to banks that are having trouble getting dollar funding. European banks access to US money markets has been sharply reduced in the last year due to worries over their solvency. The joint-central bank action is designed to ease liquidity problems, allay investor fears and avoid the painful task of restructuring underwater banks. Stocks rose on news of the emergency intervention. The Dow finished up 186 points on the day.

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