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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (76314)	3/17/2008 2:38:30 AM
From: stockfiend	Read Replies (1) of 116555

Perhaps "no limit" will be enough to matter, at least for wacky inflationists like me: Fed Acts to Rescue Financial Markets nytimes.com Excerpt: In a potentially even bigger move, the Federal Reserve also announced its biggest commitment yet to lend money to struggling investment banks. The central bank said its new lending program would make money available to the 20 large investment banks that serve as “primary dealers” and trade Treasury securities directly with the Fed. Much like a $200 billion loan program the Fed announced last Tuesday, this program will essentially allow the government to hold as collateral a wide variety of investments that include hard-to-sell securities backed by mortgages. But Fed officials told reporters on Sunday night that the new program would have no limit on the amount of money that can be borrowed.

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