Fed Auctions (another) $30 Billion

[Newsjock]

Source: Associated Press

WASHINGTON (AP) — The Federal Reserve, seeking to combat effects of the credit crisis, said Tuesday it had auctioned another $30 billion in funds to commercial banks, at an interest rate of 3.080 percent. It was the sixth in a series of auctions that so far have pumped $160 billion into the nation's banking system
The Fed's hope is that the increased resources will keep banks lending and prevent a severe credit squeeze from making the current economic slowdown worse.

The 3.080 percent interest rate set at the auction was down from a rate of 3.010 percent at the last auction held on Feb. 11. It was the lowest rate for any of the six auctions held since the Fed started this new process in December.


Read more: http://ap.google.com/article/ALeqM5jC0Js_XMSCt-GDAijc3qIbjuVZIAD8V24KO00

[sinkingfeeling]

1. But we can't afford health insurance for our children according to Bush.

[Demeter]

2. Of Course Not! That Would Be Special Interest Politics!

Think where this country would be if our top ten banks failed....

[peacetalksforall]

3. The credit card offers that junk up the mail stopped. Will we know it's

over when they start up again - after the bread lines and rationing?