Thursday, November 19, 2009

U.S. Banks Will Use Unlimited Fed Liquidity to "Buy the World" ?

Get ready for a lot more of this: "Blue-blooded City broker Cazenove bought by US bank in £1bn deal"

U.S. banks are sitting on trillions of dollars and are poised to buy distressed financial firms, particularly in Europe, that were not given access to unlimited liquidity. Whether they meet strong resistance or not, only time will tell.

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