Wall Street executives, in a private meeting with a top Federal Reserve official in late September, recommended a coordinated effort by central banks to remedy the European financial crisis, according to Fed documents received in an open-records request.
The meeting, led by Louis Bacon, founder of hedge fund Moore Capital Management, preceded a joint action Wednesday by the world’s major central banks, which banded together to provide liquidity to the markets through cheap U.S. dollar loans….
And what will be the effect on the purchasing power of the U.S. dollar within the USA and on the well being of average everyday Americans?