Bloomberg: New bailout bill allows the Federal Reserve to lower rates in "stealth"
Posted October 7th, 2008 by sean57
output
"The central bank used power granted under last week's financial-rescue legislation to effectively set a floor under its main interest rate that's lower than the 2 percent target set by policy makers last month. The Fed may now pay interest on bank reserves while it floods financial markets with liquidity, pushing down the overnight lending rate by about 0.75 percentage point to 1.25 percent."
Anybody understand what this means?
I'm guessing they want to monetize some more debt to create some more liquidity? I don't know...
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Off with their heads!
Now. Total Scumbags. Sounds I another series in which the rich will get richer and the poor will get poorer.
wow!
I was listening to coast to coast am and they talked about Argentina doing this before there collapse!
They would change rates and interest 2-3 times a day or something like that!
Of course there economy collapsed after that.....sign of the times.
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"The real terrorist's are in this country and they are not planning to blow us up, but rather, take our money, our freedom, and our country."
It sounds like they are
It sounds like they are going to give money away for cheap and will not tell anyone what they are doing. It can't be reviewed by law so they think they can't be blamed for the collapse. I think they're wrong, and the people will prove it.
In other words, the slime bag bankers are getting very wealthy.