Fed to call emergency meeting on Monday to lower rates ?
I posted some time ago that the interest rates could/should not be raised for technical reasons IE they did not and would not fix the actual problem by doing so, well it appears that they have also discovered this
If you look at how the Repo market which has risen to $3 Trillion per day (two years ago it was about 30 Billion) and loans which by law are supposed to be repaid at the end of the day are now stretched out to 30 / 90 days
Technically if the banks do not repay the money (IE settle their debts) they are bankrupt/insolvent and no longer in business so the Fed makes money available to tide them over
Obviously the big banks can no longer comply so a talk fest
Will one of more big US banks fail ?
