Look, Up in the Sky!
“Emergency help for financial markets entered new territory on Monday night as the European Central Bank announced it would on Tuesday offer unlimited funds at below market interest rates in a special operation to head off a year-end liquidity crisis.”
ECB Steps Up Liquidity Flight Fight
Financial Times – FT.com
December 17, 2007
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“…is essentially equivalent to Milton Friedman’s famous “helicopter drop” of money.”
Remarks by Governor Ben S. Bernanke
Before the National Economists Club, Washington, D.C.
November 21, 2002
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