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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: KyrosL who wrote (75810)3/9/2008 11:00:12 AM
From: Think4Yourself  Read Replies (1) of 116555
 
So the fed is essentially loaning money based on securities that the fed is implicitly insuring. Am I the only person who finds this disturbing?

Then that loaned money is used to make more loans, which are insured by the fed, which are used as collateral...

It would be fine if the insuring agencies didn't have such big writeoffs, or could at least keep their books in a competent and timely fashion.
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