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the Federal Reseve has lent more than 3 times the amount of money the US Treasury has provided in their "Let's Get This Party Re-Started By Throwing Gun Powder, Kerosene and Nitroglycerin On The Post Mania Fire" approach.
Wall Street analysts, congressional overseers and the media have parsed every detail of the Treasury Department's financial rescue program -- $250 billion and counting.
Largely outside public view, however, the Federal Reserve is lending far more than that amount -- $893 billion, roughly the equivalent of the annual economic output of Mexico -- to help a wide range of institutions weather the economic storm.
As of last week, the Fed's loans included $507 billion to banks, $50 billion to investment firms, $70 billion for money market mutual funds, and $266 billion to companies that use a form of short-term debt called commercial paper. It is considering a new program that would make billions more available to prop up consumer lending: auto loans, credit cards and the like.
Last edited by floridasandy; 12-05-2008 at 05:07 AM..
Really makes you wonder where all this debt is coming from. All that funny money and Fed manipulation will reduce the T-bill yeild to next to nothing. Who will want to buy them?
Really makes you wonder where all this debt is coming from. All that funny money and Fed manipulation will reduce the T-bill yeild to next to nothing. Who will want to buy them?
The buyer of last resort will buy them..The Fed
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