Posted on 09/21/2011 11:57:08 AM PDT by Free Vulcan
WASHINGTON (MarketWatch) — The Federal Reserve on Wednesday, acting in the face of a weak economic outlook, decided to start a program to twist the yield curve by swapping shorter-maturity government securities for longer-dated ones.
In a statement, the Fed will buy $400 billion of Treasury securities in the 6-30 year range and sell an equal amount of maturities of 3 years or less.
The Fed also announced a new plan to purchase agency mortgage-backed securities with proceeds of maturing securities.
(Excerpt) Read more at marketwatch.com ...
cookin the books for political gain...isn’t that treasonous? Sounds like another way to fook us taxpayers.
Cooking the books and setting the table for a financial trainwreck. The dims lost the house last November and probably figure they will lose the White House and the Senate next November. A big part of obamacare kicks in Jan of 2013. The repubs will be placed in a nasty situation where they will have to really cut spending with the dims and the media encouraging riots.
The dims are not loyal to our country or to us. Their first and only loyalty is to their party.
The banks are about to take it in the head on this one.
Fed Chairman Ben Bernanke ( Archimedes: “Give me a place to stand and with a lever I will move the whole world.” ) trying to move the world to save any chance Obama has for reelection in a desperate attempt to recover the economy inspite of failed Obama fiscal policies.
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