(snip)"Fed making outright agency discount note purchase
Tue Sep 23, 2008 2:10pm EDT
NEW YORK, Sept 23 (Reuters) - The U.S. Federal Reserve said on Tuesday it was undertaking an outright purchase of agency discount notes, which permanently adds reserves to the banking system."(snip)
and from a professional investor's BBS ...
(snip)"They are desperately attempting to fight the continuing housing/mortgage collapse.
And remember, Hank just announced last week that Fannie and Freddie have been authorized to crank up their purchases of MBS.
MBS that are being handed right over to the Fed in return for freshly-flung fiatscos [i.e. freshly printed US dollars - sic].
"(snip)




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