Bill Collier

Looks like the Fed uis doing its own Socialist Enabling Act II, this time we don;t get the courtesy of a “date” with a few late night votes and alarmist speeches…..they’re just gonna TAKE our money!

The Fed said it was creating a new entity to buy two types of short-term debt, known as three-month unsecured and asset-backed commercial paper, directly from eligible companies. It hopes to have the program up and running soon, Fed officials said.

Fed officials said they would buy as much of the debt as necessary to get the market functioning again but refused to say how much that might be. They noted that around $1.3 trillion worth of commercial paper would qualify.

Does this enrage you?

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