Current Events

Malpass, David
April 2008
Forbes Asia;4/21/2008, Vol. 4 Issue 7, p16
The article discusses the actions that might be taken by Washington in response to the credit market crisis. Washington has rejected the most direct and low-cost fix to the credit crunch: a stronger dollar to reduce the capital flight draining U.S. credit markets. It has opened the Federal Reserves discount window to primary dealers for the first time, bringing investment banks under the Fed's protection from runs. Washington has also expanded the role of Fannie Mae and Freddie Mac in the mortgage market.


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