Monday, March 17, 2008

Let The Good Times Roll

If you are already rich. On the other hand, I can't wait for that $300 check. I so excited, I don't know what magnificent thing I will purchase. How about you?
Far more than at any time before, the Federal Reserve is putting
its vast resources and its reputation on the line to rescue Wall
Street’s biggest institutions from their far-reaching mistakes.

Over the next few months, the central bank will lend hundreds of
billions of dollars to banks and investment firms that financed a
mountain of mortgages now headed toward default.

No one knows how many financial institutions will be looking for
money, or how much they will seek. No one knows how much in
hard-to-value securities the central bank, in return, will have to hold
as collateral.

1 comment:

Anonymous said...

Bush said that he would meet with his advisors and act decisively to stabilize markets. Widows and orphans will sleep well knowing our rocket scientist CEO President is on the job.