jim rogers

Federal Reserve Commits another $800 Billion

It's pouring money. Today the Federal Reserve committed $800 Billion more:

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 program of $200 billion to support consumer and small-business loans, the Fed said in statements today in Washington.

$200B is partially aimed at credit card debt. They want consumers to use more credit cards.

Great! Nothing on predatory lending, excessive fees...
yet another $800 Billion, just like that.