Fed to Buy Massive Amounts of Short-Term Debt

October 7th, 2008

Ben’s Dodgy Loans—While You Wait! No bankers left behind. Call now!

Via: AP:

The Federal Reserve has announced a radical plan to buy massive amounts of short-term debts in a dramatic effort to break through a credit clog that is imperiling the economy.

The Federal Reserve said Tuesday it will buy “commercial paper,” a short-term financing mechanism that many companies rely on to finance their day-to-day operations, such as purchasing supplies or making payrolls.

The market for this crucial financing, which relies on investors rather than banks, has virtually dried up.

Posted in Economy | Top Of Page

One Response to “Fed to Buy Massive Amounts of Short-Term Debt”

  1. GK says:
    October 7, 2008 at 2:33 pm

    Naomi Wolf on the arrival of the fascist dictatorship. OBEY!

    http://uk.youtube.com/watch?v=_XgkeTanCGI

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