Wednesday, December 14, 2011

No Fed Plans to Aid European Banks

I guess QE3 won't involve shipping Binford printers to other countries to allow them to print their own dollars.  Outsourcing is not an option....We need to keep this printing within the US of A and put people to work!
The Binford Ultra 8,000 Printer Model!

Federal Reserve Chairman Ben S. Bernanke told Republican senators the Fed plans no additional aid to European banks amid the region’s sovereign debt crisis, according to two lawmakers who attended the meeting.

Senator Bob Corker, a Republican from Tennessee, said Bernanke made it “very clear” in closed-door comments today the central bank doesn’t intend to rescue European financial institutions. Lindsey Graham, a South Carolina Republican, said Bernanke told lawmakers that “he doesn’t have the intention or the authority” to bail out countries or banks.

Read Full Story from Bloomberg