Word: alanes
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...Chairman Alan Greenspan was flying back to the U.S. from Switzerland when his airliner was ordered to turn back. He reached vice chairman Roger Ferguson by phone as soon as he could, and Ferguson coordinated contacts with Reserve banks and Governors both in Washington and around the country. The goal: to make sure U.S. banks would keep functioning...
...what sort of haven is the U.S. now? Technically, and in the very short term, not too different. Alan Greenspan will spare no liquidity to keep the money market and banking system oiled and the dollar in respectable odor, and investors, by the time stock markets reopen Monday, will probably have found enough silver linings in the massive renovations and relocations ahead to keep stocks afloat and perhaps even bid them higher. Think about tech stocks - when the tallest hives of the financial district and the Pentagon?s communications center is destroyed, there?s a lot of capital spending...
...Restraint like that is just like what Alan Greenspan (now making his way back to the U.S. from Switzerland) and the world?s central bankers are hoping for. Fearing panic - and that large dollar transactions could be lost in gaps in the infrastructure created by the World Trade Center disaster - the Federal Reserve requested Wednesday that central banks overseas limit the trading of dollars in the next few days while it copes with money supply issues. Indeed, dollar/yen trading Wednesday was limited and benign...
...Chairman Alan Greenspan was flying back to the U.S. from Switzerland when his airliner was ordered to turn back. He reached vice chairman Roger Ferguson by phone as soon as he could, and Ferguson coordinated contacts with Reserve banks and Governors both in Washington and around the country. The goal: to make sure U.S. banks would keep functioning...
...became apparent, and the futures plunged until the trading day was called off. (The New York Stock Exchange building was unharmed, but dust and debris from the WTC collapses flew far enough to endanger anyone who stood outside.) Perhaps the only reassurance available was the news that Fed chairman Alan Greenspan was on a trip in Switzerland and safe from the concurrent destruction in Washington...