In mid-February 2009, amid the worldwide monetary disaster, the news was sad. The U.S. market had been in recession since December 2007. It had become America's longest postwar recession if the decline lasted into early spring. Bank lending was plummeting; they were being held onto by the few banks with funds available.
With this huge shift into liquid assets (cash and cash equivalents) and away from finance of any sort (even for productive uses or, in many cases, the working capital firms needed to survive), the economy would most likely grind to a halt. On this brisk mid of February day in Washington, Timothy Geithner and Ben Bernanke got ready and re-evaluated their approaches to address the nearly discouraging task of righting the ship. In terms of monetary and fiscal policy, were they doing all they could to block this legendary slide? Were they doing?
PUBLICATION DATE: November 10, 2009 PRODUCT #: UV3957-HCB-ENG
This is just an excerpt. This case is about GLOBAL BUSINESS
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