Wall Street executives, in a private meeting with a top Federal Reserve official in late September, recommended a coordinated effort by central banks to remedy the European financial crisis, according to Fed documents received in an open-records request.
The meeting, led by Louis Bacon, founder of hedge fund Moore Capital Management, preceded a joint action Wednesday by the world's major central banks, which banded together to provide liquidity to the markets through cheap U.S. dollar loans....
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Filed under: * Economics, Politics • Economy • Corporations/Corporate Life • Credit Markets • Currency Markets • Euro • European Central Bank • Stock Market • The Banking System/Sector • The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- • The U.S. Government • Federal Reserve • Politics in General • * International News & Commentary • Europe • --European Sovereign Debt Crisis of 2010
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