Rumor Of Fed Activation Of ECB Swap Lines

Developing, but not surprising. Shit happens when your central bank drinking buddies are all broke. Issue is per Grayson amendment Bernanke needs to get Geithner's public approval to do this. Has Bernanke broken the law to bail out Europe? Or does the Fed have perpetual immunity from law compliance? There is nothing in the most recent week's H.4.1 on liquidity swaps. We will see if this changes next Thursday.