Central banks act as economy hits 'dangerous new phase'

[nadinbrzezinski]

Five central banks have announced a coordinated move to try to help the financial system, as the boss of the International Monetary Fund warns of a "dangerous" new economic phase.

The central banks are to provide commercial banks with three additional tranches of loans to help ease funding pressures.

Banking stocks rose sharply, with BNP Paribas up as much as 22%.

IMF managing director Christine Lagarde said "bold action" was needed.

http://www.bbc.co.uk/news/business-14928774

[DJ13]

1. If the governments worked this fast on easing the consumer's problems

The banks probably wouldnt be in this much trouble to start with.

The elites cry "help!", and the governments of the world rush in regardless of the cost (which they expect the non elites to pay for).

[Vincardog]

2. The farce that our and the world economy has become is coming to its' natural end

[banned from Kos]

3. Central banks to the rescue again - trying to save Europe this time

Why some people hate emergency loans is a mystery to me.

[whosinpower]

4. As long as there is high unemployment

High austerity, and zero growth - these measures are not going to result in hyperinflation.

Liquidity is drying up - and they are trying to get it moving again to keep the system working.

3rd Anniversary of the Lehman Brothers crash.
Think of this as TARP for the global economy - banks can borrow unlimited amounts based on whatever collateral they have, regardless if it is sound or not at ridiculously low rates - free money - in USD.