(Source: Business Wire)
Mark2Market, ONN.tv's newest programming on futures and commodities, goes to the CME/CBOT trading floors every morning for special reports on financial markets and currency trading. On Thursday morning's edition of "FX Overnight," Kevin Cook talked to CME trader Peter Yastrow about the coordinated central bank actions that pumped over $250 billion in short-term funding into the international banking system.
Yastrow explains the nature of the credit and banking crisis as it has heightened recently into an event where banks are afraid to lend to one another. This made the central banks' moves this morning extremely important to keep money flowing and possibly prevent a credit market seizure that could have a domino-effect for financial institutions in the wake of the Lehman Brothers collapse and the AIG government takeover. Yastrow also breaks down how AIG got itself in so much trouble in the Credit Default Swaps (CDS) market.
Kevin Cook, the host of Mark2Market, spoke with Peter from the trading floor of CME Group. The complete 5-minute interview can be found at www.ONN.tv, or through this direct link: http://link.brightcove.com/services/link/bcpid1697139148/bclid17991091 79/bctid1803209285 (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
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