The new Money definition: Credit created and properly managed by government. Gee, if they can just get it right, we can all have as much as we need?!

The following is from an article in today's Washington Post.

...as for Fannie and Freddie, nobody would be particularly happy if it became necessary for the Treasury to inject some fresh capital into the mortgage giants.

...opening the Fed lending window to cash-strapped investment banks..

Prices for many credit instruments have collapsed, forcing banks and investment houses to take billions of dollars of real or paper losses...

...an excess of cheap debt that had the effect of inflating the demand for goods and services and the value of stocks, bonds, real estate and commodities...

BK