The federal reserve plans to help buy up to 600 billion in short term debt. They are calling this debt "the funds that broke the buck" and that it is essential to help with it so the banks can get back on their feet easier. This money along with the money from the bailout plan will add up to about 13 billion in releif for banks. This is the 3rd plan proposed in the past month to help the bad credit.
Original Article:
http://www.nytimes.com/2008/10/22/business/economy/22fed.html?_r=1&hp&oref=slogin
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1 comment:
This is beyond ridiculous.
They'll just keep inflating the dollar to benefit the bankers.
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