Fed Cuts Rates, Buys All Your Used Spin Doctors CDs
Read the full article: http://www.condoroptions.com/2008/03/16/fed-cuts-rates-buys-...
If you’re a major investment bank, broker, or dealer, you’re in luck. As best we can tell, the Federal Reserve is happy to print more money to lend to troubled banks, accepting as collateral a “broad range” of assets, from the t-shirt you won as the 1996 Putnam County School Board Walk-A-Thon runner up, to the movie poster for Glitter you got from your cousin (signed by Ms. Carey herself), to the worthless mortgage loans you made last year to guys with no incomes, no jobs, and no assets speculating on condos in Orlando...
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