Sunday, April 06, 2008

Another 38 Billion A Day That You'll Have To Pay For

Yeah, this is sustainable.

Wall Street brokerages borrowing $38.1 billion a day from Federal Reserve
"WASHINGTON -- Big Wall Street investment companies are stepping up their borrowing a bit from the Federal Reserve’s unprecedented emergency lending program.
The Federal Reserve reports Thursday that those firms averaged $38.1 billion in daily borrowing over the past week from the new lending program. That compared with $32.9 billion in the previous week and $13.4 billion in the first week the lending facility opened."

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