New Fed securities purchases
November 26, 2008 at 07:12 AM EST
[Skip to the end] I like this part, after all the criticism of lenders who relied on credit agency ratings: “Each month, the Fed will auction off a fixed amount of one-year loans based on competitive bids to borrowers who will use the loans to purchase newly- or recently-issued AAA-rated consumer and small business ABS.” [top]
