Posted on 09/17/2008 10:07:07 AM PDT by TigerLikesRooster
US Treasury raises Fed funding
By Francesco Guerrera in London, Aline van Duyn in New York and Krishna Guha in Washington
Published: September 16 2008 14:47 | Last updated: September 17 2008 16:09
The US Treasury on Wednesday announced it was creating a supplemental funding programme to ensure that the Federal Reserve has the cash it needs and its ability to provide emergency liquidity support for the markets is not constrained by the size of its own balance sheet.
The move was intended to deal with fears that the US central bank’s balance sheet was overstretched following the AIG loan announced on Tuesday.
(Excerpt) Read more at ft.com ...
Does this mean they fired up another printing press?
This is not a good thing:
“Yesterday, Reserve Primary Fund, a money-market mutual fund with $64.8 billion in assets as of Aug. 31, fell below $1 a share in net asset value “
http://www.cnbc.com/id/26757097
Like throwing buckets of water at a tsunami.
No printing presses, just a few keystrokes in a computer and billions more “created”. I wonder if the Fed would like to start publishing the M3 numbers again.
That's so retro - all you need these days is a few strokes on the keyboard. Just enter as many zeros as you want. Totally paperless--think of all the trees that are saved.
Jack
I wonder which anti-American globalist company is being bailed out next?
I’m sure it is one that generously supports affirmative action, gay marraige and donates a lot of money to ACORN. That seemed to get Freddie adn Fannie’s ticket punched.
What's the relationship between the FED and the Treasury?
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