The Empire may have maxed out its last credit card. The zero-percent-introductory-rate balance transfer game may just about be finished. Can't buy no bombs if you don't got no money, nohow.
As we paddle our canoe gently downriver, I'm thinking maybe I hear a soft-in-the-distance rumbling, roaring sound ahead:
The Federal Reserve said that it would make it easier for companies to access the central bank's cash by accepting a wider range of assets, including equities, as collateral for direct loans to investment banks.Hmmmm, that couldn't be a big waterfall up ahead, could it? Naaaaw, it must not be a waterfall. That would be bad.
The Fed, which is due to meet tomorrow to decide interest rates, also raised the size of the pool of available loans to $200 billion and suspended rules that prevent banks from using deposits to fund their investment banking businesses.