Welfare for the wealthy.... What the Fed is doing is lowering the cost for banks to offload crap. Discount window borrowings need not be treasury securities as would be repo’d via fed funds. Most significant is the second release this morning: the term on discount window borrowing is expanded to 30 days. Sheesh. Thank goodness we won’t let some hedge funds and banks that made bad loans pay the price. Oh, and stick a fork in the US Dollar: it’s done. Since we are socializing and monetizing all the crap mortgage loans, who wants dollars anymore?
Please explain how.
Thank goodness we won’t let some hedge funds and banks that made bad loans pay the price.
A money losing CDO is still a money losing CDO.
Since we are socializing and monetizing all the crap mortgage loans, who wants dollars anymore?
How are we socializing and monetizing all the crap mortgage loans?