Federal Reserve Board chairman Ben Bernanke said Tuesday that other programs have jumped ahead of the idea of the central bank buying longer-term Treasurys. "We do have a couple of other things going on right now," Bernanke said, specifically mentioning the Fed's purchases of mortgage-backed securities and plans to start buying other consumer loans.
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Bernanke: Other plans have moved ahead of buying Treasurys
http://www.marketwatch.com –
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Market Pans Bank Rescue Plan
http://online.wsj.com –
Treasury Secretary Timothy Geithner promised forceful action to get credit flowing again in the economy, but the lack of detail in his much-anticipated speech helped drive stocks down nearly 5%, the worst selloff since President Barack Obama assumed office.
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USD and JPY higher bank bailout plan disappoints
http://mediaserver.fxstreet.com –
USD and JPY traded higher initially supported by a fresh spike in risk aversion sparked by news that Russia may reschedule some of its corporate debt and a CNBC report which suggests that the bad bank plan may be left out of today’s announcement of the Obama financial stabilization plan.
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