Stephen King: Central bankers ride to the rescue ? or is this Custer's Last Stand?

[Legal Beagles]

I'm still not quite sure how best to describe last week's collective action from the Federal Reserve, the Bank of England and other major central banks. Did their decision to pump money into the global financial system represent the long-awaited heroic arrival of the Seventh Cavalry, a re-run of a 1950s cowboy movie? Or, less charitably, was this the equivalent of Custer's Last Stand, a failure which will leave the central banking community metaphorically scalped?

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