France, Japan, IMF, U.S. in new crisis remedies

Source: Reuters


LONDON/NEW YORK (Reuters) - Japan and France extended more help to banks, the IMF prepared to intervene in trouble spots around the world and the Fed devised a new plan to inject liquidity into money markets on Tuesday to curb the worldwide financial crisis.

Interbank lending costs came down again, offering tentative signs of renewed confidence in the financial system, after weeks of bailouts and rescue plans appear to have cooled the worst crisis since the 1930s Great Depression.

Governments around the world have promised about $3.3 trillion to guarantee bank deposits and bank-to-bank lending, and in many cases have taken stakes in struggling banks.

"The likelihood of a global catastrophe has in fact declined over the past couple of weeks," said Glenn Stevens, Australia's central bank governor.



Read more: http://www.reuters.com/article/topNews/idUSTRE49E2E720081021

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Keep an eye on this story and remember, we do NOT under any circumstances want help from the IMF...

NO NO NO NO NO NO NO!