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Is $180 billion enough to bail out the money markets?

News of a joint effort between the Bank of England, the ECB and the Fed saw $180 billion pumped into the worldwide money markets in an attempt to keep the wheels of commerce turning, but is it enough? Can $180 billion really end the problems of recent times?

While the figures being mentioned today are literally out of this world to the person on the street, in terms of the money markets they are not enormous. The most powerful thing to come out of today is the concerted effort between the major banks of the world to ensure that the credit crunch does not claim anymore high profile victims and push the world economy into a depression.

Even though there is not a bottomless pit of money to inject into the markets there is substantially more available than the $180 billion put in today. There are also other fiscal tools which the governments around the world can use to steady the ship including taking on large mortgage liabilities in the short term, much likes the US government did with Fannie Mae and Freddie Mac.

Finally we are seeing some action from central banks around the world and for many it has come just at the right time.

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