The Federal Reserve has expanded the TAF, TSLF and PDCF funding facilities both in amount and scope.
Over $100 billion has been extended so far, and now the Fed has widened the definition of paper it will take to include auto, credit card and student loans with the result that the Federal Reserve's balance sheet is now a cornucpia of sub prime elements of all categories of lending.
As Elaine Meinel relates: The ... Big Bankers are trying to unload (their so called assets) under the new Federal Reserve Window of Opportunity™ that will accept any Tier III asset parading as a AAA Tier I property.
Over $100 billion has been extended so far, and now the Fed has widened the definition of paper it will take to include auto, credit card and student loans with the result that the Federal Reserve's balance sheet is now a cornucpia of sub prime elements of all categories of lending.
As Elaine Meinel relates: The ... Big Bankers are trying to unload (their so called assets) under the new Federal Reserve Window of Opportunity™ that will accept any Tier III asset parading as a AAA Tier I property.
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