Tuesday, March 3, 2009

"In The Real World: Fed launches new $200B consumer credit program"

I feel like the economy is becoming the little choo choooo train that could......
By JEANNINE AVERSA, AP Economics Writer Jeannine Aversa, Ap Economics Writer –
WASHINGTON – The Federal Reserve on Tuesday rolled out a much-awaited program aimed at boosting the availability of credit to consumers and small businesses.
The Fed will lend up to $200 billion to spur consumer lending — for autos, education, credit cards and other things. The bold program, dubbed the Term Asset-Backed Securities Loan Facility, was first announced late last year and originally scheduled to start in February.
Participants — companies and investors that pledge eligible collateral to back the loan — must request the new government loans by March 17. The Fed will provide the three-year loans on March 25.
Read the full story here.

1 comment:

Goldi gold said...

I don't know about any of this stuff any more. GEZZZUUUS. I rather play the mega million