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Tuesday, October 07, 2008 8:28:53 AM
Now they want to buy up unsecured debt.
WASHINGTON — As pressure built in the credit markets and stocks spiraled lower around the world on Monday, the Federal Reserve was considering a radical new plan to jump-start the engine of the financial system.
Under a proposal being discussed with the Treasury Department, the Fed could buy vast amounts of the unsecured short-term debt that companies rely on to finance their day-to-day activities, according to officials familiar with the discussions. If this were to happen, the central bank would come closer than ever to lending directly to businesses.
http://www.nytimes.com/2008/10/07/business/07markets.html?hp
For those who understand no explanation is needed, ...For those who don't none will.
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