Monday, March 17, 2008

Fed Takes Historic Steps to Ease Crisis on Wall Street

Not only is the Fed cutting their lending rate on Monday, they're going to accept mortgage-backed securities as collateral for loans to banks at least 6 months. Additionally, they are providing $30 Billion financing to JP Morgan for their $236 Million purchase of Bear Stearns- to accommodate for the bad loans & riskier securities.

read more | digg story

No comments:

1-7-2026

President White House Launches New Website to Defend 'Patriotic Americans' Involved in Jan. 6 Capitol Riot | The White House claims ...