Well, maybe Jonny was onto something.
Dad cut up our credit card today : http://www.reuters.com/article/companyNewsAndPR/idUSPEK16693720080925
So what's the perfect thing to do in a credit crisis? Remove liquidity from the market! :http://gmtfo.com/RepoReader/OMOps.aspx
To the tune of $150B by Oct.10 in OMO's by the Fed.
But they know what they're doing right? Apparently not : http://www.forbes.com/home/2008/09/23/bailout-paulson-congress-biz-beltway-cx_jz_bw_0923bailout.html
Dad cut up our credit card today : http://www.reuters.com/article/companyNewsAndPR/idUSPEK16693720080925
So what's the perfect thing to do in a credit crisis? Remove liquidity from the market! :http://gmtfo.com/RepoReader/OMOps.aspx
To the tune of $150B by Oct.10 in OMO's by the Fed.
But they know what they're doing right? Apparently not : http://www.forbes.com/home/2008/09/23/bailout-paulson-congress-biz-beltway-cx_jz_bw_0923bailout.html
In fact, some of the most basic details, including the $700 billion figure Treasury would use to buy up bad debt, are fuzzy.
"It's not based on any particular data point," a Treasury spokeswoman told Forbes.com Tuesday. "We just wanted to choose a really large number."