Instead of only giving cash to the banks in exchange for their crap paper, shouldn't the Fed give money to everybody? The banks aren't the only ones suffering from liquidity problems, the consumer is toast. The consumer is left high and dry as well as the home owner and the banks get as much as cash as crap paper they can produce. A very Republican move, take care of the banks and the big corporations and screw over the little guy. I don't like Democrats either, but at least they would print money for EVERYONE. Actually, Ron Paul should be president, he's the only one with balls to actually stop the printing presses and regain monetary discipline.
The main thing is that no bank can be allowed to fail, as for the little guy, what are his political donations? Banks give hundreds of millions and are therefore 'entitled' to preferential treatment. Screw the ordinary guy (and the banks will, there will be no forgiveness from them, no accepting IOU written on toilet paper like they get).
Can someone explain to me what this move does today and it's ramifications for markets? We know the consumer is toast, housing prices are plummeting, the dollar is dead, etc., so what about the Fed's move today caused this spike in the markets? Thanks.
Stimulus package is not enough, let these equity money losers exchange their crap stocks for peak 2007 values like the Fed is doing right now, taking AAA paper at face value when market to market is much much lower. Total scam.
Yeah! Free Money! Like I posted before: Let's really kick this economy into overdrive and turbo! Give everybody not a few hundred bucks, but a few hundred thousand! Yeah! Free Money. Woo Hoo! Heck, let's make it a cool million, then we can all be millionaires! Or a billion! Woot! A billion dollars for everybody! We can all be billionaires and then our economy would rock! No more poverty anywhere in this country. Hey wait, I know. Why don't we just have the government put out bushels of money by every cash register? There's no sense carrying money around when you can just reach into the basket, grab a handful of 100s and throw them at the cashier. At really expensive places like car dealerships, the feds could park a semi full of cash right out front. And helicopters could fly overhead and drop payloads of money all over the country so nobody is ever far from fresh moola. It's free money, right?
Just get this devaluation of the dollar over with, print as much money as their is paper in the US. Then we'll finally have finished the devaluation. Until then, more printing to come.... All roads for fiat currencies lead to zero.