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Politics : Formerly About Advanced Micro Devices

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To: Road Walker who wrote (417600)	9/17/2008 12:32:23 PM
From: bentway	Read Replies (2) of 1578704

Treasury announces debt auctions for Fed The Treasury Department will begin selling bonds for the Federal Reserve in an effort to help the central bank deal with unprecedented borrowing needs resulting from the current credit crisis. Treasury officials said Wednesday that the new program would be part of the normal auctions it conducts to finance the government's budget deficits, which have been soaring because of the current economic slump. Treasury officials said that the first auction would be for a total of $40 billion and would occur later Wednesday. The auction would be for cash management bills that will mature in 35 days. The announcement represented an unprecedented action in which Treasury will be selling debt securities such as bonds for the nation's central bank. news.yahoo.com

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