Quote:
Originally Posted by sabang  If the Fed sells them back into the market at a Loss (they are not even saleable, but if they ever are their secondary market value will be a fraction of their face value, as priced by the Fed), you guessed it, the taxpayer carries the can.
Some Loan.  |
Well if the $29 billion to JP has you bent, the other $200 billion the FED has recently agreed to make available thru the central bank to securities firms must have nearly given you a hart attack.
I think the move in regard to JP and Bear Stearns was the best move for the market, and the US tax payer at the time. I am not however so sure about the additional $200 billion.