Central banks, the fed and more money into the pool

Overnight Central Banks around the world, including our Federal Reserve, almost quadrupled the amount of dollars central banks can auction around the world to $247 billion in a coordinated bid to ease the crisis.

The Fed increased the amount of dollars that the European Central Bank, the Bank of England, Canada, the Bank of Japan and other counterparts can offer from $67 billion ``to address the continued elevated pressures in U.S. dollar short-term funding markets.'' Investors stockpiled money on concern more financial institutions would fail after the bankruptcy of Lehman Brothers and the problems with AIG. The cost to hedge against losses on U.S. government debt climbed to a record yesterday.

Watch yourelf out there.
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