Tuesday, November 25, 2008

Slippery! Proceed with Caution!

In WNY it has snowed every day for a week so the roads are pretty slick, but that is not what I meant.

Bloomberg.com: Economy:
"The Federal Reserve took two new steps to unfreeze credit for homebuyers, consumers and small businesses, committing up to $800 billion.

The central bank will purchase as much as $600 billion in debt issued or backed by government-chartered housing-finance companies. It will also set up a $200 billion program to support consumer and small-business loans, the Fed said in statements today in Washington."
It sure is a slippery slope. If you bail out one, then it just keeps going and going and going.

Which is not to say that in their shoes, I might not do much of the same. I think I probably would but sure would be reluctant to do so and we sure can not say they aren't trying!

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