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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: ldo79 who wrote (360678)3/3/2008 6:12:32 PM
From: KeepItSimple  Read Replies (1) of 436258
 
For the last month the fed was taking anything as collateral, mainly sub-prime CDOs which are worthless on the open market. The fed took them as good as cash, and now they find out a month later that the assets were complete BS.

What a shock.

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More U.S. Treasury debt issues borrowed by bond dealers have not been returned to the Federal Reserve on time, underscoring the huge recent demand for the securities, according to Fed data released on Monday.
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