fNO, the Fed is going to have to buy that debt from the banks to get them back on their feet. The couple of hundred dollars your going to get is not going to do dick. The JBush admin. is in a fog. The Fed is trying to make funds easy for the banks to access but the banks don't want to to lend with the bad paper they are holding and its getting worse. Yes, the fed is going to have to take the hit and then the banks will lend freely again and the cycle will start over. THis coutry runs on credit and nothing else. BAnks have to come first.
THis coutry runs on credit and nothing else. BAnks have to come first.
Amen. We are indeed a credit driven society. It almost seems that the general mentality is "Why go through life using your own money when you can use someone else's and only pay the interest on the money"....you never have to pay the principal back..just keep refinancing and rolling the debt over. For better or worse, it seems to have become the American way.