true or not true??, page-19

"MF Global was also significant - a blow to some that will be remembered by all."

Fed is trying to strengthen its tools for preventing collapse of large financial firms was the title of an article on Bloomberg a few days ago. Link here

http://www.bloomberg.com/news/2011-12-20/fed-bolsters-tools-for-averting-collapse-of-big-financial-firms.html

Another matter of importance. News out of Europe is that the euro fell against most of its major peers amid concern that European Central Bank measures to support its banking sector won’t be enough to arrest region’s worsening sovereign-debt crisis.

Back to square one, I think.

For those that don't know. Economists and some other people have been asking for the ECB to announce unlimited purchases of sovereign European debt, which so far the ECB has refused to do.

However, the ECB announced recently that it would provide unlimited support to the European banking system, including unlimited 3 years loans at 1% in exchange for collateral that included sovereign debt. This would, some hoped, allow the banks to borrow from the ECB and then apply the funds in the purchase of European sovereign debt. This hope now seems to have been dashed.