Standard & poor 's ratings services believes that the comprehensive measures governments around the world will carry out to support financial institutions should stabilize the banking industry 's day-to-day operating environment and unfreeze debt markets .
The exception from gao audit for monetary policy matters rightfully extends to the federal reserve 's use of market credit and liquidity programs to support the functioning of financial markets , stimulate the economy , and unfreeze credit markets .
Even if the ongoing efforts to rescue the banking system and unfreeze the credit markets work - and while it 's early days yet , the initial results have been disappointing - it 's hard to see housing making a comeback any time soon .
On monday afternoon , the securities investor protection corp. said it plans to start liquidating mf global 's brokerage unit in order to unfreeze customer accounts .
His makeshift team helped unfreeze more than $ 200 million in libyan assets to help finance the thousands of libyans studying in the u. s.and canada , and are working on cases of libyans in the u. s.fearful of having to return to their war-torn country .
The european central bank has been far less proactive than the federal reserve ; it has been slow to cut interest rates ( it actually raised rates last july ) , and it has shied away from any strong measures to unfreeze credit markets .
To unfreeze the global financial market therefore requires significant increases in bank capitalisation , not just to the status quo ante , and not just to account for the toxic securitised assets themselves , but to adjust for the stuff that is getting toxic right now and tomorrow .