On Tue, 04 May 2010 23:29:58 -0500, F. George McDuffee
wrote:
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Congratulations on being proactive rather than reactive to
the Greek/Euro financial/fiscal crisis as indicated in your
web posting of 04 May titled "Tiahrt: No Taxpayer-Funded
Bailouts for Greece". Keep up the good work!!!

A few items of caution and observation:

(1) Based on the prior precedent of the Mexican bail-out
shortly after the ratification of the NAFTA treaty using
funds from the "(emergency) Economic Stabilization Fund" now
known as the "Exchange Stabilization Fund" IT MAY ALREADY BE
TOO LATE in that the money has been appropriated and is now
under administrative/bureaucratic rather than Congressional
control.
http://en.wikipedia.org/wiki/Exchang...ilization_Fund
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Without editorial comment except to note that this was
released late on Sunday night [May 09]

http://news.yahoo.com/s/ap/20100510/...na/date/asc/11
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WASHINGTON – The Federal Reserve late Sunday opened a
program to ship U.S. dollars to Europe in a move to head off
a broader financial crisis on the continent.
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prevent the European crisis from spreading further.

The Fed said action is being taken "in response to the
reemergence of strains in U.S. dollar short-term funding
markets in Europe," and to prevent the spread of that strain
to other markets and financial centers.

A so-called "swap" line with the Bank of Canada provides up
to $30 billion. Figures weren't provided for the other
central banks. The arrangements are authorized through
January 2011.
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--

-- Unka George (George McDuffee)
...............................
The past is a foreign country;
they do things differently there.
L. P. Hartley (1895-1972), British author.
The Go-Between, Prologue (1953).