The Residential Real Estate Crash Index Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Les H	5/18/2008 9:44:56 AM
	Read Replies (2) of 306849

Federal Reserve steps in with trash-for-cash deal To grease the gears of the nation's seized-up credit markets, the New York Fed in recent months created three new lending entities. Together, they allow banks and financial firms to swap up to $350 billion of securities they cannot sell for cash or U.S. Treasuries. The entities will stay in business as long as the markets for mortgage securities and other orphaned "investments" are closed, the Fed said. This allows institutions to exchange their trash for cash that they can turn around and lend to corporations or individuals. iht.com "Things are a bit calmer now. On Thursday, the Fed said the brokerage firms applying to the entity put up securities valued at only $7.24 billion, less than one-third the amount the Fed was willing to exchange for Treasury securities." Wrong. Looks like there were too many banks for the previous day's auction and the Fed opened up another special auction. ny.frb.org Act

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next