reuters.com — The U.S. Federal Reserve, in another massive life-support intervention for the U.S. financial system, on Tuesday announced a $600 billion program to buy mortgage-related debt and securities and a $200 billion facility to buy consumer debt securities
Nov 25, 2008 View in Crawl 4
future15tbdNov 25, 2008
WTF? Excuse me, but isn't this what the bail out was for? So while Treasury is buying up shares & pumping billions onto the balance sheet of banks, the Fed has doubled down to do what the original plan was intended to do and Paulson said wasn't necessary?
Closed AccountNov 25, 2008
Just continue to print up money until it becomes worthless. How many hundreds of useless paper dollars will it take a year from now to buy a loaf of bread?
emazurNov 25, 2008
Take yesterday's announcement in Bloomberg on how the Fed pledged 7.6 trillion dollars to "ease" the credit market, and today's announcement of another $800B down the whole, and of course the original $850B bailout, and add in the fact that the Fed caused the September meltdown in the first place by offering cheap credit used to buy overvalued homes which spurred investment into buying more overvalued homes (backed by overvalued mortgage backed securities that eventually sunk), and you have to wonder- what more will it take before people realize that we need to end the Fed? Support H.R. 2755: Abolish the Fed:<a class="user" href="http://www.govtrack.us/congress/bill.xpd?bill=h110-2755">http://www.govtrack.us/congress/bill.xpd?bill=h110 ...</a>