The Roof is on Fire, The Fed Brings Water…
(Note: I’m still on semi-vacation. Posting will resume its normal pace in September.)
The Roof! The Roof! The Roof is on fire! We don’t need no water, let the mutha-f#^*@ burn. Burn mutha-f#^*@, burn!
Apparently the Fed (aka The Plunge Protection Team (PPT)) isn’t down with “letting it burn”. The US Fed joined other global PPTs and injected billions of dollars into the ’system’ on Thursday and Friday. According to the NY Times:
Hoping to provide some comfort that there is ample cash available, the Federal Reserve made its largest intervention since the markets reopened Sept. 19, 2001, in the wake of the terrorist attacks. The central bank injected $38 billion into the financial system on top of the $24 billion it put in on Thursday.
Well that action calmed the market a bit on Friday but who knows what will come in the longer term. I think it’s just dragging out the inevitable but what do I know?
tagged: Apple Computer Inc. (AAPL) and Plunge-Protection-Team
