Wednesday, March 12, 2008

Fed Giving Away Your Money To Banks.

March 11 (Bloomberg) — The Federal Reserve, struggling to contain a crisis of confidence in credit markets, plans to lend up to $200 billion in exchange for mortgage-backed securities.

This story has the wife in a frothing rage...seriously. You should have seen it when she found it on the interweb machine. I thought she was going to miscarry then and there. Fortunately she's calmed down a bit, but there were occasional dark mutterings about Ben Bernanke's health during the commercials on American Idol. If the wife is after his scalp, I don't give much for his chances.

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