So, with banks on the brink of a liquidity disaster, the Fed decided to step up to the plate and offer to take the stuff nobody wants to buy as collateral for loans of U.S. Treasury securities. To a bank, this allows them to effectively replace the junk that is a drag on their balance sheet with bright and shiny T-bills.

Specifically the Central Bank will make an additional $200 billion available to cash-tight banks and lenders as a way of easing credit strains. The beauty of the plan is that this move was done in conjunction with other central banks around the world with the funds now being made available to Wall Street investment houses, banks, and lenders as part of 28-day loans, rather than overnight loans."

 

I believe that the Fed  AND the Bank of Canada AND The Bank of England made this 200 billion available,but the way it was written give the Canadians and the Brits no credit for trying to save the greedy Wall Street idiots that brought this debacle down on us in the first place..I hope that the Feds follow up and throw the greedy mother Fu****s in jail so far that they have to pump sunlight into them..

They have put the world into recession..