Another massive injection of liquidity by European Banks and the Fed. Another $430 billion was injected into the system. The 3 Month Treasury Bill was dropping like a stone till European Banks injected $. Well over $2 trillion has been injected by our Fed and other foreign Fed banks. Link

As mentioned this AM 3 major European banks failed. City Bank also bought Wachovia. One bank buying another is just like kick the can. All it does is take the toxic debt of one bank and put or "kick" it onto another bank.

Bottom Line – The credit crisis has obviously spread to Europe and the rest of the world. If congress does pass a plan it will take at least a month to put in place. By then it may already be too late.

Best advice – Protect your money.

AS ALWAYS DO YOUR OWN RESEARCH BEFORE INVESTING.

Barr

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