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This is iamamartin, reporting from the Federal Reserve Camp, deep in the US Financial Markets, economists are running round me as I speak, dodging bad loans and increasing counter party risk. They are firing back as much liquidity as they can find, but the position here is starting to look grim, one board member tells me "I can't sleep any more, I lie awake staring at the ceiling thinking about more writedowns coming up the hill and hearing my Rifle click, because we've ran out of rate cuts, throwing my last pool of liquidity into a frozen market and being overrun by another crisis."

These are indeed dangerous times my friends. If these brave bankers can't hold the line here ....

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