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And, yes, I DO take it personally: I wouldn't call this a particularly good sign of things to come
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Friday, August 10, 2007

I wouldn't call this a particularly good sign of things to come

to be sure, the headline creates an initial level of impact...
Credit Crunch In U.S. Upends Global Markets

and the first paragraph heightens it a bit...
The turmoil in the U.S. credit markets turned global Thursday, prompting central banks in Europe and the United States to pump more than $150 billion into the financial system to keep it operating smoothly.

but it's not until the fifth paragraph that the full weight of the story becomes clear...
The injection of $130 billion into the financial markets by the European Central Bank was the largest amount ever provided in a single operation, exceeding the amount added after the Sept. 11, 2001, attacks. It came after France's biggest bank, BNP Paribas, froze three funds that had invested in the troubled U.S. mortgage market. The move sent banks in Europe scrambling for cash. The Federal Reserve followed by adding $24 billion to the U.S. banking system.

ya got all that...? that's ONE HUNDRED AND FIFTY FOUR BILLION DOLLARS...!

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