THOUGHT FOR THE DAY!

"The United States does not have an automatic call on our resources. There is no mind-set that puts this country first."-- Cyrill Stewert, Chief Financial Officer of Colgate-Palmolive Corporation

 

Fed Boosts Cash Auctions to $900 Billion, May Do More

The Federal Reserve will double its auctions of cash to banks to as much as $900 billion and is considering further steps to unfreeze short-term lending markets as the credit crunch deepens.

Webmaster's Commentary: 

The Fed can print up the "loanable" money it wants. NOBODY WILL BORROW IT BECAUSE THE HIGH PAYING JOBS NEEDED TO REPAY THE LOANS ARE GONE!

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