Today, it's "AAA paper" [wink, wink]. Soon it will be junk bonds. Then, title to foreclosed mortgages. Eventually, it will become.. "Got a non-performing asset? Bring it to the Fed and we'll print some more money and take it off of your hands... the tax payer will buy all of your mistakes". For "the good of the banking system", or "for the good of the country", or "for the good of the people". You CAN connect the dots on this one, right? I suspect the Fed has also taken similar actions covertly with T-Bonds... printing money and buying bonds to keep bond yields ridiculously low.