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Pastimes : True Confessions -- Admit it -- you bought that stock -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (731)	3/7/2008 5:23:14 PM
From: carranza2	Respond to of 990

Robbing Peter to pay Paul. Taking the TAF cash it loaned the banks with junk as collateral, then converting the cash into Treasuries so the banks can use them to build up their balance sheets and make loans on leverage, and maybe make some progress. Pretty slick, but the net/net is that junk is serving as collateral for Treasuries 'purchases.' Would any prudent creditor do something so cockeyed? Nyet, comrade, not even in the former Soviet Union. I suppose the Fed doesn't mind not getting paid.