major global financial firms
Fed acts Sunday to prevent global bank run Monday
Submitted by MichaelVail on Mon, 03/17/2008 - 5:24pm.
WASHINGTON (MarketWatch) -- Acting quickly to prevent a run on major global financial firms, the Federal Reserve cut its discount rate by a quarter percentage point to 3.25% and offered to lend money to a longer list of firms than ever before.

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