As of the end of the first quarter of 2008, The Federal Reserve made the following transactions to prop up Wall Street.
Lent banks $10.3 billion through the discount window.
Lent banks $100 billion in term auction credit.
Lent securities dealers $76 billion through standard repurchase agreements.
Lent securities dealers $34.4 billion through the discount window.
Lent securities dealers $75 billion of its Treasurys in return for other collateral through its new Term Securities Lending Facility.
Lent up to $36 billion to the European and Swiss central banks
That is a total of 331.7 Billion Dollars in new debt and liabilities on the balance of financial institutions that have no capacity to repay. Can you say crash!
3 comments:
King George
Your calls are right on tarket. Is there a way for investors to prosper in this market?
Economy is going down like crazy and the government is making it worse. It's really scary!
Of course they won't repay, all this money is just to help the rich guys. Let's forget the working class people!!!!
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