[RT] Fed's $200 billion lifeline

[Code 2 <Code2@xxxxxxx>]

The government has always been careful to not cross the line and
guarantee Fannie Mae and Freddie Mac's debt.  Well, as part of
Bernanke's $200 billion Term Auction Facility announced yesterday,
they are now accepting unconventional securities as collateral -- you
guessed it, Fannie Mae and Freddie Mac mortgage-backed debt.

What's next, Ambac and MBIA debt?  SIV debt?  Citigroup stock?  It's a
slippery slope, here, people.

http://online.wsj.com/article/SB120523882863126997.html?mod=fox_australian




 
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