"Cutting short rates as close to zero as possible," writes Ian Shepherdson of High Frequency Economics in a note to clients today, "is a key ingredient of the policy mix required to prevent a pre-depression economy becoming a real depression economy." http://seekingalpha.com/article/98459-the-die-is-cast?source=headline1
On addition to the package this time is the expansion of deposit insurance coverage. It increases the coverage limit of deposit insurance from $100,000 to $250,000, and allows FDIC to request the government to cover unlimited amount of losses. The protection of bank liabilities is another tried and failed policy to deal with the financial crises in many countries. http://www.rgemonitor.com/asia-monitor/253848/will_expanding_deposit_insurance_coverage_prevent_bank_runs
You see folks; as Mr. Rubin was well aware, the federal trust funds DO NOT AND NEVER DID CONTAIN ANY MONEY . These accounts exist in the minds of accountants and lawyers [ledgerdom] only. So here's what was going on:.... http://www.marketoracle.co.uk/Article6619.html
