The Fed just dumped $75 Billion into the economy, possibly to avert a massive financial crash.
Monday morning, large short term loans became unavailable and rates for these gigantic loans shot up.
High interest rates caused financial crashes in the past. The Fed panicked and flooded the market with lots of money.
The question is why were short term loans unavailable, where did that money go and what shot up the interest rates?
Richard Wolff joins The Thom Hartmann Program to sort through this.
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