*tap tap tap* Who’s at the window? EVERYONE. A few days ago, the Federal Reserve announced that hey, we’re going to pump an additional $630 BILLION into the system! Part of that is global, but there’s now $450 bil floating around at the TAF ($150 bil more than before). Sum total, this is more than double the liquidity we had floating around before Sept 29th.

From Bloomberg:

The Fed increased its existing currency swaps with foreign central banks by $330 billion to $620 billion to make more dollars available worldwide. The Term Auction Facility, the Fed’s emergency loan program, will expand by $300 billion to $450 billion. The European Central Bank, the Bank of England and the Bank of Japan are among the participating authorities.

Hasn’t helped much, has it?

Bernanke, assuredly, is scratching his head. Kinda hard to be the savior of the economy when you chuck over half a bil at them and the Dow loiters in the latrine like a kid in high school who skips homeroom to smoke cigarettes. And now they want another $700 billion, a bottle of rum and some wooden arrows?

(With thanks to Erik Skiles who sent me the Bloomberg link. And with apologies that I am on the road and my phone ate your image, sir. On my part, fail.)

Also, welcome to the world of financial lol-blogging, to the folks at the Telegraph!