Replies to post #647 on Citigroup Inc (C)

[Gastrodamas]

I'm thinking of a law suit for 60 billion dollars. My Lawyer will call yours.

[BullNBear52]

I think the Fed is running out of tricks. Yesterday buried in the news they announced that they'd pay interest on reserves.

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