Greece and Puerto Rico Crises Could Mean Fed, Again, Becomes World's Central Bank

NEW YORK (TheStreet) -- If the Greece and Puerto Rico debt crises cause worldwide panic, scaring investors and causing liquidity to dry up, the U.S. Federal Reserve just might step in to help, becoming, in essence, a central bank to the world.  You read that right: The Fed must be prepared to help maintain liquidity in world markets. There's precedent.  The Federal Reserve was very active in during the Great Recession in supplying reserves to other central banks throughout the world through ce...