Funny, huh ?
Now the Fed wants to do what banks can’t/won’t/shouldn’t. Of course we the taxpayers have the Fed’s back.
Moral hazard, anyone ?
God I hate those people.
The Fed Reserve used to just have Treasury securities in its portfolio to back up the USD.
In the last year it’s swapped for billions in crap from banks & Wall St firms and given the banks TBills to put in their reserves. Martin Weiss said the figure was 30% of this crappy “stuff” on the Fed books now