banks get the cash if next door there s a bank that could take the whole system down. all right. if richard doesn t want me to be xenophobic, let me be industriphobic. what about the nonfinancial sector companies, harley-davidson, mcdonald s? what was that all about? when lehman went down, even before that, you had the overnight lending operations for day to day lending for some of the companies so they could make their payroll and do their be business. it dried up. you had other market participants that stepped up and the fed that made sure that the oxygen was flowing to these companies. i think what this shows is that the fed was the central bank to the world, to the world business and multinationals. this is what globalization of financial services and industry has done. spot on. and the fed is the one that it oh my goodness, richard and i agree. i ll have to ali.
the financial crisis hit. some nonamerican handouts went to barclays capital and deutcha bank. no small change there. richard, why would the federal reserve be loaning money to non-u.s. economy? oh, ali, stop being xenophobic. the truth is the money was lent to people like barclays and ubs that have large had-scale operations in the united states that are intimately involved in u.s. capital markets both as primary dealers and secondary dealers. they are huge market participants. you cannot have a situation where you say only those banks that are true blue american
that are true-blue american banks get the cash. if next door there s a bank that could take the whole system down. all right. well, if richard doesn t want me to be zenphobic, then christine, let me be industriphobic. what about those nonfinancial sector companies, harley-davidson, mcdonald s, what was that all about? when lehman went down, even before then, you had the overnight lending operations for day-to-day lending for some of these companies so they can make their payroll and do their business, it dried up. so you have these other participants who stepped in and the fed that stepped in to make sure the oxygen was flowing to these companies. i think what this shows is that the fed was the central bank to the world to the world business to multinationals. and this is what globalization of financial services and industry has done. this is exactly and the fed is the one i mean, goodness, richard and i agree.
non-american banks even before the financial crisis hit. some of the non-american handouts went to barclays capital, bnp, deutsche bank, no small change there. richard, why oh, ali, stop being zenphobic and trying to stir a pot of trouble. the truth is, of course, the money was lent to the u.s. subsidiaries of these banks. people like ubc credit, swiss barclays, that have very large-scale operations in the united states that are intimately involved in u.s. capital markets both as primary dealers, secondary dealers. they are huge market participants. so you cannot have a situation where you say only those banks
the u.s., with the ukrainian government in kiev while russia tries to get as much as it wants to protect itself. all the while you could have russian troops on the border of ukraine and pro-russian demonstrators in cities like karkeiv in the east of ukraine and ever present threat of russian military intervention. you heard john mccain say we should be ready to provide military assistance to some sort of ukraine. those are the questions i ll be looking at this week. thomas roberts, what year is this? i feel like we are falling back in time. richard doesn t agree. we left last week we know there were strategican russian military on the borders while the vote was about to take place. kiev worked ahead of time to discredit the crimean