Rachel Riddle IB 210 Wall Street Journal 4 2:30-3:45 As Dollar Drops to Low, Is an Intervention Likely? With the dollar sinking lower than ever before there is talk of government intervention. Perhaps the only way to save the United States dollar is government intervention suggests the article. Government intervention in the form of the Federal Reserve or a central bank buying the dollar to help it recover from what appears to be a continuous downturn. Most analysts claim this is still highly unlikely, but as we look around the world, private corporations are getting help from governments more and more frequently. A few weeks ago the British government made the decision to nationalize Northern Rock, a mortgage lender caught in the American housing crisis that has spanned the globe. The large banking corporation Citigroup turned to Chinese investors to keep itself a float and this is not the first time either. Citigroup looked to Saudi Arabian investors to rescue it from trouble. Other banking corporations sought financial aid too. The Chinese
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This note was uploaded on 04/04/2008 for the course IB 210 taught by Professor Kunalbanerji during the Fall '07 term at Eastern Michigan University.