Posted on 09/03/2009 3:01:21 PM PDT by Kartographer
Banks boosted borrowing from the Federal Reserve's emergency lending facility over the past week, but cut back on other programs intended to ease the financial crisis. The results offered a mixed picture of credit conditions.
(Excerpt) Read more at news.yahoo.com ...
The fields are labeled for your convenience... :-)
If I had an hour, I could not think of a better rejoinder.
Good job, sir!
Any surprise? This is simply the cover needed to nationalize the entire banking industry. Raise the standards required to avoid being closed (asset-to-loan ratio), and then say “here’s some money”.
Of COURSE banks are going to take the money, the rules have changed! And they’re going to hold it - not spend it - since they have to raise the levels of their assets. Which means the Government has control as long as those assets are retained.
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