They did it anyway

The Federal Reserve is helping "bail out' Europe, along with the rest of the international banking community:


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WORLD CENTRAL BANKS ANNOUNCE BIG COORDINATED LIQUIDITY PUMPING

Just out...
Markets are surging on the news that big central banks have unveiled coordinated intervention to ply the market with more liquidity.
The market had been fading after that weak spate of economic data.
Here's the full announcement from the ECB:

15 September 2011 - ECB announces additional U.S. dollar liquidity-providing operations over year-end

The Governing Council of the European Central Bank (ECB) has decided, in coordination with the Federal Reserve, the Bank of England, the Bank of Japan and the Swiss National Bank, to conduct three U.S. dollar liquidity-providing operations with a maturity of approximately three months covering the end of the year.


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I think "pumping" is trading stuff back and forth in an effort to get the market moving, while not actually producing anything of value - fraud, in other words.

You know who will end up paying.