You might recall that the Federal Reserve last month opened its discount window for borrowing money at cheap rates to non-banks for the first time since the Great Depression. It was a radical step, aimed at easing the credit crunch and unlocking the markets.
So in the midst of a debate over whether greedy and irresponsible homebuyers should get a hand from the government, Wall Street firms seem to be bundling together a bunch of financial junk and shoving it on the Fed, in return for the government's gracious extension of credit.
....but hey, do what you want....you will anyway.
No comments:
Post a Comment
Comments are moderated. There may be some delay before your comment is published. It all depends on how much time M has in the day. But please comment!