The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: patron_anejo_por_favor who wrote (87211)	8/27/2007 11:17:22 AM
From: Les H	Read Replies (1) of 306849

One week into the Fed's effort to grease the wheels of the US credit system, Wall Street is wondering just who needs the money because there is no line at the window. Federal Reserve data released late Thursday reveals only a modest increase in direct Fed loans to banks, apart from funds borrowed by five major institutions in what was seen as a symbolic gesture. None of the five - Citigroup, JPMorgan Chase, Bank of America, Wachovia and Germany's Deutsche Bank - said they needed the money. The identities of other borrowers is not known. "The window is open, but nobody came," said Lawrence Dyer, interest rate strategist at HSBC Securities USA, in New York. gulf-news.com

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